Global mobile payments operator Monitise has acquired Markco Media – the deal includes MyVoucherCodes.co.uk and Last Second Tickets. Monitise will pay out £24.5m initially as part of the deal with another £2.5m to be held back until 2016; an additional £28m will be paid depending on earn-out targets being reached within the two years.
The discount deals site MyVoucherCodes.co.uk partners with 80% of the UK's biggest online retailers such as Argos, Currys, Debenhams, John Lewis, Marks & Spencer and Tesco; Last Second Tickets arranges discounts on concert tickets and other events with promoters and venues. Monitise's customer base will now be able to avail of the discounted deals via the mobile apps of its partners.
Lee Cameron, chief commercial officer at Monitise, said: ‘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 has brought 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.