SingTel To Buy U.S.-Based Mobile Advertising Firm Amobee

Singapore Telecommunications Ltd. said it will acquire U.S.-based Amobee Inc., a provider of mobile advertising solutions, for about $321 million — the company’s first major acquisition since 2007.

SingTel, which is majority owned by Singapore’s investment firm Temasek Holdings, aims to use the acquisition to expand into mobile advertising technology and services and expects to complete the transaction before June, according to a statement to the Singapore Exchange.

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