Visa (V) Acquires Fundamo for $110M Cash; Signs Long-Term Commerical Agreement w/ Monitise plc
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Visa Inc. (NYSE: V) reports that it has acquired Fundamo for $110 million cash.
Closing is expected today, and is slightly dilutive to Visa’s earnings per share in its fiscal year 2011 ending September 30, 2011.
Visa also announced a new, long-term commercial agreement with Monitise plc to expand delivery of mobile financial services to banked Visa account holders in conjunction with Visa’s financial institution partners.
In addition, Monitise and Visa will launch a mobile banking solution in the U.S. for clients of Visa DPS, Visa’s debit and prepaid processing platform.
Closing is expected today, and is slightly dilutive to Visa’s earnings per share in its fiscal year 2011 ending September 30, 2011.
Visa also announced a new, long-term commercial agreement with Monitise plc to expand delivery of mobile financial services to banked Visa account holders in conjunction with Visa’s financial institution partners.
In addition, Monitise and Visa will launch a mobile banking solution in the U.S. for clients of Visa DPS, Visa’s debit and prepaid processing platform.
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