Singapore Telecommunications Limited (SingTel) has acquired US-based mobile ad targeting firm Amobee, in a deal valued at about US$321m.
Founded in 2005, Redwood City, California-based Amobee offers a platform through which customers can run targeted mobile ad campaigns on a global scale.
SingTel already has geo-localisation capabilities, as well as the means to provide customers with relevant and customised offers and promotions - and also has access to more than 400 million mobile customers. The acquisition will enable it to provide ad technology services to operators, publishers, advertisers and agencies, and to help clients deliver relevant offers, rewards and promotions to their customers.
Amobee's existing management team - led by CEO Trevor Healy (pictured) - will remain in control of the company.
Healy comments: 'SingTel and Amobee have a shared a vision of the future of mobile marketing, and by leveraging each other's strengths we will be able to advance the industry on a global scale at a faster pace.'
Subject to conditions, the transaction is expected to complete before June 2012.
Web sites: www.singtel.com and www.amobee.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.