Monitise plc is engaged in the provision of mobile banking and payments technology solutions. The subsidiaries of the Company are Monitise Group Limited, which is an intermediate holding company; Monitise International Limited, Monitise East Africa (Uganda) Limited and Monitise India Private Limited, which are engaged in mobile phone banking and payments services; Monitise Business Solutions Limited, which is engaged in providing mobile phone software services and Monitise Inc., which is an intermediate holding company. On August 21, 2009, the Company acquired an additional 50% interest in its joint venture, Monilink Ltd, from its joint venture partner VocaLink Ltd. Monilink Ltd is licensed to provide mobile phone-initiated banking and payment services in the United Kingdom and Ireland.