inMarket Buys Location-Based Targeting Platform Thinknear

In the US, digital advertising platform inMarket has acquired location-based mobile marketing and targeting platform Thinknear from its previous owner Telenav. Financial terms of the deal have not been disclosed.

The Thinknear platform connects people and brands, offering planning, targeting, optimization, and measurement capabilities for businesses of all sizes. Last year, the firm launched a DIY tool called Geolink, which uses Thinknear's location-targeting and campaign-optimization technology, to enable users to manage all aspects of their campaigns directly within the platform.

Following the acquisition, Thinknear's team and intellectual property will join inMarket in exchange for Telenav receiving a minority equity interest in the company, which will roughly double headcount and revenue. The deal will enable Thinknear's clients to tap into inMarket's 50 million Comscore-verified smartphone integrations, helping brands to identify and engage consumers during multiple touchpoints of the purchase journey, including as they walk into any location in the US. In addition, inMarket clients will gain access to Thinknear's place-based targeting and geotype technology, which create profiles around ideal customers based on location behavior.

Todd Dipaola (pictured), CEO and founder of inMarket comments: 'inMarket and Thinknear combined have almost two decades of successful location technology innovation, yet have tackled the opportunity of timing and targeting in very complementary ways. Combining these thriving solution sets allows us to further delight our clients and help them grow by consistently delivering high ROI consumer engagements.'

Web sites: www.inmarket.com and www.thinknear.com .