Amobee signs $8.8m mobile ad deal with InMobi
May 15, 2011 (Globes - McClatchy-Tribune Information Services via COMTEX) --
Mobile advertising company Amobee Media Systems Inc. has signed a three-year partnership with Silicon Valley-based independent mobile ad network InMobi Inc. Sources estimate the contract at $8.8 million. The partnership will enable the two companies to offer ad campaigns to Fortune 500 companies.
Amobee's portfolio of Fortune 500 brands will now have access to InMobi's mobile ad network, which is capable of reaching over 300 million consumers across 200 countries worldwide. Together, the two companies will be able to deliver richer, more innovative campaigns, such as immersive 3D advertising, with a wider global reach.
Amobee CEO Zohar Levkovitz said, "InMobi's impressive ad network gives us the ability to offer our brands targeted mobile ad campaigns with unprecedented global reach, engagement, and performance. As a leading mobile advertising services and solution provider, Amobee is always looking to partner with pioneers in the market that will add value for our customers."
Amobee was founded in 2005. Its mobile ad campaign management platform adapts ads for SMS, MMS, video clips, music clips, games, and mobile Internet. The company won the "Globes" Most Promising Start-Up award for 2008-09. The company has raised $54 million to date from Sequoia Capital, Accel Partners, Globespan Capital Partners, Cisco Systems Inc. (Nasdaq: CSCO), Motorola Inc., Telefonica SA (NYSE; Madrid:TEF; LSE: TDA; Euronext: TFA; DAX: TNE5; TSE: 9481), and Vodafone Group plc (LSE; Nasdaq: VOD).
Sequoia partner Michael Moritz told "Globes" last week that Amobee was a world-class company, implying that that a sale at a good price was possible soon.
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