Monitise Buys Vocalink

Finextra:

Monitise buys out Vocalink to take control of Monilink network



Monitise has bought out joint venture partner VocaLink to take full control of UK mobile banking and payments network Monilink. Monitise will pay an initial £1.5 million in cash over three years for debt-free, 100% ownership of the network.



VocaLink will continue to provide Monilink with access to its banking and payments infrastructure, in return for services fees. The firm could also earn up to £1.5 million in further consideration, subject to Monilink beating financial performance targets, between now and June 2013.



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