Velti Acquires Mobile-Ad Firm
Consolidation in the mobile ad industry continued on Tuesday when London-based mobile marketing company Velti announced its acquisition of AdInfuse, a small San Francisco mobile ad technology firm. Terms of the all-cash deal were not disclosed.
AdInfuse is one of scores of small companies that have sprung up in recent years on the assumption that advertisers would be eager to reach consumers on their mobile phones. They have entered the fray with a variety of business models, from building Web sites designed specifically to be visited via mobile devices to creating technologies that deliver ads in text messages. Since January 2006, about 80 such companies have raised more than $1.2 billion in venture funding, according to media and marketing investment bank Petsky Prunier.
