Monitise Named One of the Fastest Growing UK Technology Companies

Thursday 20 Oct 2011 | Member Press Release |

Monitise plc (LSE: MONI), the technology company delivering mobile banking, payments and commerce networks worldwide, has been named among the fastest growing technology companies in the UK.

The Deloitte Technology Fast 50 is one of the UK’s foremost technology award programmes, ranking the UK’s 50 fastest-growing technology companies on their percentage revenue growth over five years. Monitise Group has been ranked number 12 in this year’s awards, with a growth rate of 2,408% during the five-year period.

Welcoming the award, Monitise Group CEO Alastair Lukies said: “It is very pleasing to be named one of the UK’s fastest growing technology businesses in this year’s Deloitte Technology Fast 50.

“While Monitise’s growth ambitions remain as strong as ever, this award is recognition of the growth and success we have achieved in delivering our mobile money technology solutions in the UK and around the world.

“It also reflects the emphasis we place on collaboration and innovation, not only among our staff, who have doubled in number in the past year, but also with our partners as we continue our work in helping financial institutions defend and extend their role via mobile money services.”

David Halstead, Partner leading the Deloitte Technology Fast 50, said: “The Deloitte Technology Fast 50 gives great profile to technology companies and is internationally recognised as being one of the most important business awards in the sector.”

“Making the Deloitte Technology Fast 50 is a testament to a company’s commitment to technology,” said Peter O’Donoghue, Deloitte Technology partner for the London Region. “With its 2,408% growth rate over five years, Monitise plc has proven that its leadership has the vision and determination to grow in competitive conditions.”

Notes to editors
Commentary, analysis and case studies (including regional) is available at www.fast50.co.uk

About Monitise:
Monitise plc (LSE: MONI.L) is a technology company delivering mobile banking, payments and commerce networks worldwide with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of services to their customers in developed and emerging markets.

With live services in the UK, the US, India and Africa, the company is working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including Europe, Asia Pacific and Latin America. Monitise has a global alliance agreement with Visa Inc. and a strategic partnership with Visa Europe. Other leading partners and clients include FIS and RBS.

NatWest, HSBC, Lloyds Banking Group, First Direct, U.S. Bank, Ulster Bank, Standard Chartered Bank, Travelex, Vocalink, Vodafone, Orange, O2, T-Mobile, 3 UK, Research In Motion, Best Buy Europe, The Carphone Warehouse, First Eastern, Astra, JETCO and PCCW mobile.

More information is available at www.monitisegroup.com

Monitise Group
Alastair Lukies, CEO
44 (0)20 7947 4300
Gavin Haycock, Communications Director
Gavin.haycock@monitisegroup.com

FTI Consulting
Charles Palmer / Jon Snowball
44 (0) 20 7831 3113

About Deloitte:
In this press release references to Deloitte are references to Deloitte LLP, which is among the country’s leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press. For more information, please visit www.deloitte.co.uk.

Member of Deloitte Touche Tohmatsu Limited

UK Technology Fast 50 entry criteria

  1. The company must have been in business for a minimum of five years;
  2. The company must be considered a technology company, which is defined as:
    • producing technology
    • manufacturing technology-related products
    • be technology intensive, or use unique technology to solve problems
    • devoting a high percentage of effort to technology R&D;
  3. The parent company must be UK-owned and have its headquarters in the UK (subsidiaries of UK or multinational organisations do not qualify);
  4. Operating revenues must be at least £34,000 (50,000 Euros) for the first financial year of the five year period and £540,000 (800,000 Euros) for most recent financial year;
  5. All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition. Unless a statutory exemption is being taken, these accounts should be unabbreviated and audited.

Technology Fast 50 selection and qualifications
The Technology Fast 50 list is compiled from Deloitte’s nominations submitted directly to the Technology Fast 50, and public company database research. To qualify for the Technology Fast 50, entrants must have had 2006 operating revenues of at least £34,000. Deloitte researchers examined financial statements to validate operating revenues.

Entrants must also be public or private companies headquartered in a participating region of the UK and must be a “technology company,” defined as a company that owns proprietary technology that contributes to a significant portion of the company’s operating revenues; or devotes a significant proportion of revenues to the research and development of technology. Using other companies’ technology in a unique way does not qualify.