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LONDON, UK / ACCESSWIRE / June 15, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Fiserv, Inc. (NASDAQ: FISV). The Company announced on June 13, 2017, that it has reached an agreement on the terms of a recommended cash offer (£70 million, or 2.9 pence per share) to acquire Monitise PLC. Fiserv is the leading provider of financial services technology solutions, where it expects the transaction to accelerate its digital strategy and the development of next-generation of digital banking platforms for leading institutions worldwide. Fiserv reported $5.5 billion in revenue in 2016 and about 23,000 employees at 120 global offices. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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The Company

Monitise PLC is a specialist in the financial services technology sector. The Company is focused on accelerating the digital transformation of banks and financial institutions. The Company operates across America, where it is engaged in mobile banking, enterprise alerting, and short message service banking products. In Europe, the Company delivers bank-grade mobile banking and digital services based on the Monitise Enterprise Platform, FINKit, while delivering digital services to banks and financial services partners.

The Loss-ridden Firm

Monitise has yet to report a profit after its 13-year lifespan. Monitise reported annual revenues of £67.6 million for the financial year ended June 30, 2016. Monitise failed to adapt itself accordingly with the rapidly changing mobile banking market, where it has been on the block for over two years following repeated revenue warnings and widening losses.

The acquisition will accelerate the Fiserv digital strategy and the development of a next-generation digital banking platform for leading financial institutions across the world.

Transaction Details

Fiserv has valued the acquisition at 2.9 pence per share for a total amount of about £70 million. The offer represents a premium of about 26.1% to the closing price of 2.30 pence per Monitise share on June 12, 2017. Monitise initially surpassed the £2 billion valuations amid soaring expectations in the global mobile banking market. Through this acquisition, Fiserv expects to broaden its strategy and technology offerings for financial institutions working to move ahead of consumer and client expectations.

Growth Prospects

Fiserv is a leading financial services Company that delivers secure, robust, and reliable solutions that meet the complex processing needs of payment switch providers. Fiserv supports more than 12,000 clients in over 80 countries with more than 23,000 associates and moves more than $1.5 trillion each year on behalf of its clients. The Company recently announced on May 31, 2017, the latest version of POSH from Fiserv, a robust and flexible switch solution for payment transactions, has achieved the highest level of PCI Payment Application Data Security Standard (PA-DSS) certification. POSH is one of the few payment gateways to meet this standard globally and has been certified for the next five years.

The PA-DSS program is comprised of a set of technical and operational qualification for software vendors with the overall objective of safeguarding customer data. By selecting a PA-DSS certified application, payment providers can ensure the security of their customer's data and support the overall PCI-compliance for their organization while delivering confidence for consumers to make secure payments.

Last Close Stock Review

On Wednesday, June 14, 2017, the stock closed the trading session at $124.62, marginally up 0.09% from its previous closing price of $124.51. A total volume of 736.34 thousand shares have exchanged hands. Fiserv's stock price surged 5.92% in the last three months, 18.89% in the past six months, and 17.84% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 17.26%. The stock is trading at a PE ratio of 31.12. At Wednesday's closing price, the stock's net capitalization stands at $26.75 billion.

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SOURCE: Pro-Trader Daily