Monitise buys voucher firm Markco for £55m

 
Oliver Smith
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MOBILE payments firm Monitise yesterday said it would acquire MyVoucherCodes.co.uk and Last Second Tickets owner Markco Media in a £54.5m deal.

Monitise said the acquisitions would allow it to become “the enabling partner of choice amid the biggest shift in financial services and shopping in a generation, as brands turn to mobile”.

The deal is made up of an initial £24m with a further £2.5m deferred and £28m dependent on Markco hitting profit targets.

“Markco Media has established itself as a leading player in creating digital solutions that link consumers to retailers via innovation, marketing and technology,” said Monitise commercial chief Lee Cameron. Markco counts a number of online retailers among its partners such as Marks & Spencer, John Lewis and Tesco.

“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,” added Cameron.

Monitise shares closed up 1.8 per cent at 57.02p.