Monitise has put itself up for auction in the previous month. Executives of Monitise are believed to have met with the prospective purchasers in the US, the previous week, as the British company wants additional capital to materialize expansion plans.
Other possible bidders that are supposed to have articulated a tentative interest consist of IBM and Oracle. However all of the takeover negotiations are said to be at an initial stage. Monitise is due to inform the City on its economic performance on Tuesday, when it is also likely to provide investors with some understanding about the progress of talks with potential purchaser.
In a statement issued in the previous month, the organization stated that it still focuses to gain a pre-tax profit in the fiscal year of 2016 but also warned that the revenues would be lesser than expected for the 3rd time in a speedy succession.
Monitise announces that in light of recent most share price weakness, the feedback provided by the shareholders, and industry growth, it is starting a review of all the options open to the organization to maximize the value for shareholders.
The board considers that the organization has a stimulating future as an sovereign business, however it identifies that there may be other businesses which could influence the capabilities of Monitise for digital commerce enablement to accelerate the growth significantly take maximum benefit of the development opportunities in the market.