After years of attracting ridicule as the company that failed to live up to its name, Monitise could finally be put out of its misery. The mobile payments company recommended an all-cash offer yesterday from Fiserv, a US-listed financial services technology company, at 2.9p a share, a premium of 26.1 per cent to the undisturbed price on Monday and valuing Monitise at about £70 million.
Monitise was once a stock market darling, valued at more than £1 billion, and among the pioneers of the UK’s fintech industry before the company came crashing to earth. A stream of revenue warnings, management departures and an aborted sale has left Monitise’s share price and its reputation in tatters. Investors who had backed the company, including a £109 million