Reuters: Deals: Monitise buys U.S. rival Clairmail for $173 million

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Monitise buys U.S. rival Clairmail for $173 million Mar 26th 2012, 13:27 Mon Mar 26, 2012 9:27am EDT (Reuters) - British mobile banking technology and services firm Monitise Plc (MONI.L) has agreed to buy privately held U.S. rival Clairmail for $173 million, expanding its reach on the key North American market. The companies said after the deal Monitise would reach 13 million consumers on four continents, and serve a third of the top 50 North American financial institutions. Financial services are seen as one of the major business opportunities in the wireless industry but so far has become big business only in a few countries as tight regulations and the lack of a business model have restricted wider take-up. Telecom operators, banks, credit card companies and technology firms have been fighting to get a piece of the potentially lucrative business.

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