Singapore Telecommunications company, SingTel, is planning to acquire mobile advertising company, Amobee, for a hefty US$321 million, with the purchase finalizing by June this year.

SingTel is planning to boost their mobile advertising business with the acquisition of US mobile advertising company, Amobee, for US$312 million dollars. If all goes well, the purchase will finalize by June 2012 and the management will remain in place. According to Allen Lew, chief executive of SingTel Group, majority of their 400 million clients are in emerging markets. Based in Redwood City, Amobee is a mobile advertising technology company that provide solutions and services for advertisers, publishers and operators, with a proprietary platform that supports existing and emerging mobile ad formats on any mobile, internet-enabled device, including gaming platforms.

Source: Bangkok Post