Telco group Singapore Telecommunications (SingTel) said it will pay about US$321m to buy Amobee, a US-based provider of mobile advertising services to operators, publishers and advertisers.
The acquisition is part of a wider strategy to gain …
Telco group Singapore Telecommunications (SingTel) said it will pay about US$321m to buy Amobee, a US-based provider of mobile advertising services to operators, publishers and advertisers.
The acquisition is part of a wider strategy to gain momentum in the mobile content industry in face of growing competition from the likes of Apple and Google.
When announcing the Amobee purchase, SingTel also said it would reorganise its business structure into three units: consumer, digital services and ICT.
The aim is to “capture emerging opportunities in a new era, as customer usage behaviours and preferences evolve rapidly with the proliferation of new devices, content and technology,” the company stated.
Amobee will be part of the digital services unit. The transaction is expected to be completed by June 2012.
SingTel is already present in several Asian countries, mainly through stakes in mobile network operators but also in fixed-line, satellite and internet service providers.
The Amobee transaction marks a new step in the Singaporean company’s plans to grow further.
