UK-based mobile payments firm Monitise has announced its acquisition of a group of businesses including discount website myvouchercodes.co.uk and online retailer Last Second Tickets.
The company has said it intends to use the new businesses, which together form the group Markco Media, to deliver offers, discounts and tickets through its customers’ consumer base.
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Monitise chief commercial officer Lee Cameron said: "Markco Media has established itself as a leading player in creating digital solutions that link consumers to retailers via innovation, marketing and technology.
"Buying rather than building these assets brings Monitise a marketing content delivery platform that has been developed over almost eight years, an instant network of marketing content partners, and a platform scalable across geographies."
Although most of the acquired business’s operations are in the UK, it also serves markets including the US, France, Germany and Brazil.
Monitise hopes the acquisition, by expanding its mobile offering, will help in its push towards a mobile-first business model. Mobile-enabled offers and discounts will add to its range of products for that channel, which already include virtual gift cards.
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By GlobalDataCameron said: "This transaction marks another step in our mobile commerce journey to make it easier for financial institutions, payment companies, mobile operators, network partners and retailers to connect with consumers in our increasingly mobile lives."
The businesses that make up Markco Media currently have a client base that includes retailers M&S, John Lewis, Debenhams, Thomson Holidays, Argos, Currys, Sky, B&Q, Tesco, Walmart, Target, Amazon, The Home Depot, and Carrefour.
Markco Media founder Mark Pearson said: "Brands are realising just how important it is to adopt a mobile-first approach to getting in front of existing and new customers. Given this, we are incredibly excited about becoming part of the growing Mobile Money ecosystem that Monitise is building across financial services, payment processors, mobile network operators and retailers."
During March, Monitise surprised many in the banking industry by announcing a change of strategy, overhauling its revenue model and again revising its revenue targets.
Monitise said it was moving to a subscription-based business model. The UK-based mobile banking software company hoped to rollout the shift faster by selling a 9.5% stake in the company in ordinary shares.
At the time, Jon Murphy, executive director at EA consulting group, a client of Monitise, said the changes in strategy signalled the company’s big aspirations. He said: "What Monitise is doing is trying to become the new Paypal.
"It can provide the new payment infrastructure to enable money transmission and payments to happen much more effectively and efficiently.
"I think what Monitise is doing is positioning itself in the market and it is already working with hundreds of banks in many instances to do that."
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