A major mobile acquisition was announced Monday.
Singapore Telecommunications Limited – or ingTel – isn’t wasting any time in 2012 when it comes to expanding its presence into the fast-growing mobile advertising and marketing industry.
This morning, SingTel revealed that the company has signed an agreement to acquire U.S.-based Amobee, a leading global provider of mobile advertising solutions to operators, publishers.
Per the terms of the agreement, SingTel will pay $321 million for Amobee.
Beyond mobile advertising, through banner ads, there are opportunities to include targeted deals and coupons as well as loyalty rewards programs for customers, SingTel says, promising to harness these opportunities to become not only the leading mobile advertising company in Asia Pacific, but also among the top three worldwide.
“We are delighted to partner SingTel to continue our leadership in mobile advertising,” says Trevor Healy, Amobee CEO. “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.”