LONDON--Monitise PLC (MONI.LN) said Monday it and International Business Machines Corp. (IBM) have agreed an expanded, multi-year global alliance to deliver cloud-based mobile commerce solutions to help financial services institutions embrace the mobile channel and better engage with customers.

Monitise shares at 0740 GMT up 1 pence, or 1.18%, at 43 pence valuing the company at 831 million pounds ($1.42 billion).

-Write to Ian Walker at ian.walker@wsj.com

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