Monitise sees continued momentum and business wins
LONDON - Monitise plc (LSE: MONI) announces that it is seeing continued momentum across the Group with a number of new business wins in both Europe and the US, as well as a contract renewal.
In particular, Monitise has entered into a five-year Mobile Money partnership with a leading UK bank and financial services company and also renewed and extended its commercial contract with a leading financial institution.
Under the terms of the new UK business win, Monitise will design, build, and manage new digital banking, payments and shopping services. The partnership has a contract value of several million pounds. In line with Monitise's strategic focus on moving further towards a user-generated business model, the new partnership includes provisions for revenue sharing arising from retail offers generated via the Group's growing mobile commerce network.
The commercial activity for the UK-based global Mobile Money business reflects increasing corporate and consumer interest in digital technology services and products that enable people to securely and easily bank, pay and buy on the move via their mobile phones and tablets.
On the back of this momentum, Monitise reiterates its expectation of approximately 50% growth in revenue, and gross margin above 70% in the fiscal year to June 2014.
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