Lee Cooperman Raises Monitise Stake ~ market folly

Thursday, March 28, 2013

Lee Cooperman Raises Monitise Stake

Lee Cooperman's hedge fund Omega Advisors has revealed an increase in London listed Monitise (LON:MONI).  Due to trading on March 20th, Omega's position has increased from 5.65% to 10.06% of Monitise's voting rights.

Cooperman's firm originally took a stake in Monitise back in January of this year.  We've also detailed how Louis Bacon's hedge fund Moore Capital Management also disclosed a stake back in December.

Per Google Finance – “Monitise plc is a United Kingdom-based holding company. The principal  activity of the Company is as a technology company delivering mobile banking, payments and  commerce networks worldwide. The Company’s segments include Live Operations, Investment in  future operations and Investment in technology platform. Live operations include both territory  deployments and development contracts, which consist of Monitise United Kingdom, Monitise  Americas and Global accounts. Investment in future operations segment represents the Company’s  operations which are not live operations covering both pre-sales and start-up period. Investment in  technology platform segment comprises the ongoing development, enhancement and maintenance  costs of the Monitise technology platform. On June 25, 2012, the Company acquired US mobile  banking and payments specialist, Clairmail Inc.”

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