Another significant acquisition is poised to take place in the mobile marketing space.
On Thursday, Velti – a prominent provider of mobile marketing and advertising technology – announced that it has entered into a definitive agreement to acquire Air2Web.
Air2Web is a provider of mobile customer relationship management (mCRM) solutions in both the United States and India for no shortage of top global consumer brands. Velti will pay consideration of approximately $19.0 million in cash for Air2Web and expects to keep in excess of $12.0 million of annualized revenue from the acquisition.
“Air2Web’s mobile CRM platform is attracting and retaining many of the most marketing-savvy Fortune 1000 brands including, among others, AT&T, Comcast, American
Express, HSBC, Barclays Bank and Citigroup” said Alex Moukas, CEO of Velti. “Through this acquisition, Air2Web’s customers can now leverage Velti’s comprehensive mobile marketing platform and global capabilities to increase the scope, scale, geographic reach and overall effectiveness of their mobile marketing strategies.”
But Velti isn’t stopping at Air2Web. The company also announced that it’s signed a definitive agreement to “consummate the previously announced acquisition of the remaining interest in CASEE.”
Founded in 2006, CASEE is the largest mobile ad exchange and mobile ad network in China.