Asia’s leading communications group, SingTel Group has confirmed that in an urge of expanding its network beyond the borders, has purchased the US based firm Amobee for $321 million, according to Dow Jones via WSJ. The partnership with Amobee to build a strong independent company that will serve a wide operator, publishers, advertisers and agencies base with leading edge mobile advertising technology and services. The move will be completed before June.
Mr Allen Lew, CEO Group Digital L!fe (designate), said: “The mobile advertising market is nascent and has significant potential for mobile operators, who are able to provide differentiated solutions across smartphones and feature phones, giving brands a better return on their marketing spend. We want to capture that growth in developed and emerging markets, starting with this acquisition. SingTel brings better value to customers as they are in control of the promotional message they receive. Likewise for brands, they will be able to reach out to the customers who are interested in their products and minimise wastage of ad spend.”
SingTel already holds other mobile firms in the continent, including India’s Bharti Airtel, Indonesia’s Telkomsel, Thailand’s AIS, Pakistan’s Warid, Philippines’ Globe and Citycell in Bangladesh. The group also owns and operates Australian carrier Optus. Amobee is headquartered in the US but it operates across the globe.