Monitise, the global mobile payments outfit, has announced the acquisition of Markco Media, with part of the transaction including the MyVoucherCodes.co.uk and Last Second Tickets brands.
The grab will cost Monitise an initial £24.5 million (to be satisfied by the issue of 43,729,676 new ordinary shares of 1p each in the company), and a further £2.5 million to be held back for two years, and an additional £28 million to be paid providing "aggressive earn-out targets" are achieved in two years.
You're likely familiar with the MyVoucherCodes.co.uk name, a leading discount deals site which has ties to 80 per cent of the UK's foremost online retailers including the likes of Marks & Spencer, John Lewis, Debenhams, Argos, Currys, Tesco, and of course Amazon.
Last Second Tickets negotiates directly with promoters and venues to get discounts on tickets for music gigs and various entertainment/leisure events. All this discount goodness will be made available to Monitise's user base via the mobile apps of the company's partners.
Monitise notes that this moves its capabilities forward as specified in the platform investment it announced back in March. Most of the acquired assets are B2C-based, but there are a growing number of B2B white-label initiatives included from the likes of EE and MasterCard.
Monitise Chief Commercial Officer Lee Cameron commented: "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."