Monitise Update

Monitise have now issued a release stating that they are issuing another 180m shares at 30p (US$0.50) to fund expansion. They also announced that they were taking control of their online Mobile Money presence in the UK for $15m and acquiring eMerit a UK mobile money pioneer, in an all share transaction  From reading the release it seems that this is a company whose presence on the global stage as a mobile money software solution provider or "white goods" solution is exploding, and they need to rapidly grow globally to meet the challenges. In the last few months they have inked deals with several key players ranging from Intuit the giant accounting software company through RIM to Cognizant a giant services firm. I suspect that all these players need huge support as they ramp up use of the base platforms. Nothing in the update makes me draw back from this dynamic, rapidly growing company in a key software area for the future, mobile payments.