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Monitise Plc Rises On News Of Global Alliance With IBM

monitiseMonitise (LSE: MONI) announced this morning that it’s entering into an expanded, multi-year global alliance with IBM. The alliance is designed to deliver cloud-based solutions aimed at enabling mobile e-commerce for financial services institutions. Monitise’s share price is currently up 1.8%.

The alliance will, the companies say, bring together IBM’s “MobileFirst” portfolio, alongside IBM’s financial services and retail industry expertise, with Monitise’s mobile banking and payments capabilities, and will be delivered globally as part of IBM’s “Global Business Services” operation.

Commenting on the annoucement, Monitise CEO Alastair Lukies said

Mobile is increasingly becoming the primary way for us to bank, pay and buy. Central to our strategy and collaborations is a drive to enable the businesses we work with to adopt solutions that help them engage more effectively with existing customers and unlock new commercial opportunities,”

“At a time when money is becoming more digitised, this strategic alliance with IBM will support financial institutions across the world in developing effective cloud-based strategies that make a real difference to consumers’ lives.

At 43p, Monitise’s share price is down nearly 35% so far this year, with a substantial part of that drop happening earlier this month, when the company lowered its full-year revenue guidance markedly. That drop is set against a FTSE 100 that’s down just 0.5% since the start of 2014. However, over the longer term, Monitise is thrashing the index, with a share price that’s risen 500% over the past five years, versus a gain of just 53% for the FTSE 100.

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Jon Wallis owns shares of Monitise. The Motley Fool owns shares of Monitise.