October 1st, 2010 by Arjan Olsder Posted in Companies & M&A | No Comments »
Velti has acquired Mobclix to expand its presence in mobile marketing. In addition to expanding its mobile advertising network, it also adds analytics to its pool through Mobclix’ acquisition of heartbeat earlier this year.
Velti is said to have paid $50 million for Mobclix and is likely to merge Mobclix with AdInfuse, a mobile advertising company Velti bought in 2009. Recent stats from the company show it has managed 2.000 mobile advertising campaigns on its network, originating from 450 clients.
“Mobclix has established itself as an innovative and important player in the areas of mobile applications and analytics,” said Alex Moukas, CEO of Velti. “In concert with Velti’s existing software-as-a-service-based mobile marketing and advertising solutions for agencies, brands, mobile operators and media organizations, we believe the combined companies present a valuable resource.”
“Joining a global leader in mobile marketing like Velti is the natural next step in the growth of our team, technology and customer community,” said Krishna Subramanian, Co-Founder of Mobclix. “We see important synergies between Velti’s technology and customer base, aligned with the innovation and passion of the Mobclix team. We are excited about what we can do together.”
