Singapore Telecommunications Limited (SingTel) agreed to acquire U.S.-based Amobee, a premium provider of mobile advertising solutions to operators, publishers and advertisers globally, for about US$321 million.
SingTel said its ambition is to change the game by delivering next generation relationship marketing tools for brands to give them more scope to deepen their one-on-one engagement with different audiences across different countries.
Mr Allen Lew, CEO Group Digital L!fe (designate), said: “The mobile advertising market is nascent and has significant potential for mobile operators, who are able to provide differentiated solutions across smartphones and feature phones, giving brands a better return on their marketing spend. We want to capture that growth in developed and emerging markets, starting with this acquisition. SingTel brings better value to customers as they are in control of the promotional message they receive. Likewise for brands, they will be able to reach out to the customers who are interested in their products and minimise wastage of ad spend.”
Amobee is based in Redwood City, California.
http://www.singtel.com
