Under the deal, Monitise has paid 20 mln ordinary shares of 1p each in Monitise plc to First Eastern for the remaining 50 percent stake in Monitise Asia Pacific.
Completion of the acquisition is conditional only upon admission taking place. Following admission, Monitise will have 1,640,029,298 Ordinary Shares in issue.
Following the transaction, Monitise is set to take full control of Monitise Asia Pacific’s 49 percent stake in its Indonesian joint venture with PT Astra Graphia Information Technology. That partnership, which was entered into in 2011, was created to develop new mobile services for financial institutions targeted at both banked and unbanked consumers in Indonesia.
In recent news, Monitise has unveiled that its BlackBerry messenger peer-to-peer (P2P) payments service, BBM Money, has been enhanced with new functionalities including an array of bill payments, cardless cash withdrawals via ATMs and access via wifi.
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