Hyderabad-based leading VAS provider, IMIMobile is reportedly on the lookout for acquisitions in the US and Western European markets in a bid to target the mobile advertising market in these regions through its Ad-Ring offerings.

As per reports, the company has already shortlisted two such firms for acquisitions. The European acquisition which is expected to add $ 10 million in revenues may be completed within the next two months while the US buy-out will happen by next year.