Shares in Monitise (MONI) soared 14 per cent to 48p after it announced a global resourcing alliance with US computing giant IBM . The deal builds on the pair’s existing partnership and will see the mobile money specialist’s technology hosted and sold as an IBM cloud solution to businesses worldwide, and a fifth of its workforce transferred to IBM.
IC TIP:
Buy
at
48p
Further integration with IBM will give Monitise access to its global sales team and considerable resources. That should support its goal of turning profitable by the end of 2016 and growing its customer base to 200m by 2018.
Broker Canaccord expects a full-year loss per share of 2.5p, narrowing to losses of 2.1p next year and 0.5p in 2016.
