Mobile Advertising Firm Acquired by Phunware

Largely lost in the shuffle of incoming 2013 headlines was the acquisition of TapIt Media Group earlier this week by Phunware.

Phunware, if you’re not familiar, is a growing name in enterprise branded mobile application infrastructure and experiences. NFL, NASCAR, ESPN, Discovery, other top brands are among their clients.

Given the company’s growth and aims for future growth, the acquisition of TapIt Media Group – a global independent mobile advertising company – seems to make sense. Not surprisingly, the $23 million transaction was unanimously approved by the Boards of Directors for both companies.

TapIt, of course, is no slouch either. It’s biggest customers include Disney, Toyota, MSNBC and Rovio. Phunware’s CEO and co-founder Alan Knitowski says the acquisition will enable his company to “add further breadth and depth to the existing global scale of our core MaaS [mobile-as-a-service] platform product offerings.”

According to Wednesday’s announcement, TapIt’s ad products will now display the “TapIt by Phunware” label.

“We are honored to become part of the Phunware family, as our combined mobile platform offerings will add operational value, insight and control to both advertisers and publishers alike,” said Giancarlo Maniaci, Co-Founder and CEO of TapIt Media Group. “With the velocity of adoption and maturation of mobile increasing daily, we strongly believe that fully integrated, easy to use, simple to deploy and all-inclusive mobile platforms like Phunware’s MaaS will soon define both ‘best of breed’ and the new global mobile standard.”