Two powerhouses in the mobile marketing industry are now one.
Lenco Mobile Inc. and iLoop Mobile, Inc. today announced that they are combining their businesses. The merger will fuse Lenco’s international operations and rich media platforms with iLoop’s market leadership in the United States. Together, the new partners announced in a press release Monday, the combined company will have operations on five continents serving leading multi-national brands and wireless carriers around the globe.
The combined business of Lenco and iLoop will provide the broadest suite of solutions available to the mobile marketing sector, offering customers advanced technological capabilities to reach billions of consumers on a personalized, targeted basis.
Lenco’s solution provides advertisers and wireless carriers the means to deliver large, high volume campaigns through rich media messaging with highly personalized content, optimized for each different device. For advertisers, this means they can, for the first time, deliver a highly engaging user experience while taking advantage of the pervasive reach of mobile.
And as far as the partners are concerned, there’s never been a better time to “go big.”
In its 2011 advertising forecast, Magnaglobal commented on the growing market: “Mobile advertising has finally had the breakthrough year that many industry observers were long expecting, and interest in the medium has never been higher among advertisers.”
“Lenco offers leading edge rich media based solutions to both carriers and brands in Africa, Asia, Australia and Latin America. iLoop Mobile is one of the leading mobile marketing companies in the United States, serving major multinational customers. By combining our businesses, we can offer Lenco’s rich media solutions to iLoop’s blue chip set of U.S. based customers,” said Michael Levinsohn, CEO of Lenco Mobile.
Under the terms of the merger agreement, iLoop will merge into a subsidiary of Lenco, with iLoop’s stakeholders receiving a combination of cash and securities valued at approximately $42 million.