Digital marketing firm Amobee, which was acquired by Singtel in 2012 for $321 million, announced today that it has purchased two companies for a total of $359 million.
Amobee is buying cross-channel digital advertising firm Adconion for a valuation of $235 million, with a consideration payable of $209 million excluding debt. At the same time, it is also taking over data analytics firm Kontera for $150 million.
The two companies will be fully integrated into Amobee.
Amobee CEO Mark Strecker said that with the two firms joining its stable, the company seeks to be a one-stop place for digital marketers who can not only advertise across multiple channels and screens now, but also analyse their data more effectively.
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With Kontera, Amobee is also buying over its 18 patents.
Amobee Chairman and Singtel Group Digital Life CEO Allen Lew says that as the world is shifting towards mobile internet, the carrier’s profits are coming more from the emerging markets — and it wants to make sure Amobee gets to scale and is present in front of as many advertisers as possible as more people get access to smartphones in these markets.
The company currently takes up a 10 percent share of total digital ad spend of mobile display advertising across the world. Strecker said that today, brands have focused on simple advertising such as via SMS in emerging markets — such as Indonesia because of the presence of more basic mobile devices there — but now as the price point of smartphones becomes lower, Amobee aims to step in to provide a much richer experience.
Lew said he believes as mobile increases in importance, Amobee needs to arm itself with the capability to deliver the potential of mobile advertising — and data analytics is the key for Amobee to differentiate itself in mobile and target customers with real-time ads.
Headline image via Rufus Cox/Getty Images
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