Singapore Telecommunications Limited (SingTel) on Monday agreed to acquire U.S.-based Amobee, a premium provider of mobile advertising solutions to operators, publishers and advertisers globally for US$321 million.
“Singtel is expanding its presence into the fast-growing mobile advertising and marketing industry, with plans to help brands better reach their target audience and deliver relevant offers, rewards and promotions to customers”, the company said in a statement.
Mobile devices today play an important role in everyday life. They are increasingly popular with customers who depend more and more on these devices to provide timely and relevant information on the go. Beyond mobile advertising, through banner ads, there are opportunities to include targeted deals and coupons as well as loyalty rewards programmes for customers.
SingTel said it intends to harness these opportunities to become not only the leading mobile advertising company in Asia Pacific, but also among the top three worldwide.
SingTel already has advanced geo-localisation capabilities, as well as the means to empower customers to receive only relevant and customised offers and promotions catering to their needs and preferences while protecting their privacy.
SingTel’s access to the Group’s over 400 million mobile customers offers a compelling proposition for brands wanting to reach customers in the emerging markets. Amobee complements these capabilities with a strong technical platform that serves ads, banner as well as video ads and an experienced team in mobile advertising.
“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”, said Allen Lew, CEO Group Digital L!fe (designate).