Mobile advertising platform InMobi today announced the acquisition of Los Angeles-based AerServ for $90 million (roughly Rs.570 crores) in cash and stock.
"This acquisition fits in perfectly with our global strategy to bring next-generation platforms for premium publishers," InMobi founder and CEO Naveen Tewari said in a statement.
Also, two profitable companies are combining forces to cement leadership position in mobile video advertising, he added.
InMobi, founded in 2007, is backed by Japanese conglomerate SoftBank.
The combined platforms will bring next-generation mediation capabilities to premium publishers and establish the first programmatic video exchange in India and China, Tewari said.
"Over the next three years, we expect to increase our brand programmatic revenue tenfold with this acquisition and continue our investments in that direction," he added.
Programmatic advertising refers to usage of software to buy advertising, rather than a manual process.
Two-thirds of the world's digital display advertising is expected to be traded programmatically by 2019 and advertising sold programmatically will increase from $57.5 billion (roughly Rs. 3.66 lakh crores) to $84.9 billion (roughly Rs. 5.4 lakh crores) over the next two years, growing at an average rate of 21 percent a year, the statement said.
Josh Speyer, Chief Executive Officer at AerServ, said the move will help build a strong business in previously untapped markets such as China and broader Asia Pacific region.
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