Started in 2007, InMobi has so far raised close to USD 221 million, with Softbank contributing about USD 205 million in the company.
Bangalore based mobile advertising company InMobi has announced the acquisition of Los Angeles-based AerServ for USD 90 million in a cash and stock deal to create a unified programmatic auction platform for in-app publishers.
The company did not disclose the amount of stock component in the deal. Started in 2007, InMobi has so far raised close to USD 221 million, with Softbank contributing USD 205 million in the company.
InMobi last raised a debt of about USD 100 million from Tennenbaum in September of 2015.
With this investment, InMobi’s video and programmatic business will account for 35 percent of the overall company's revenue.
Founded in 2012, AerServ offers an ad-serving and mediation platform for mobile apps and websites.
InMobi currently competes with Google's AdMob besides others such as Flurry and StartApp.
“This acquisition fits in perfectly with our global strategy to bring next-generation platforms for premium publishers. Our combined platforms will bring next-generation mediation capabilities to premium publishers and establish the first programmatic video exchange in India and China,” said Naveen Tewari, founder, and CEO.
The acquisition will enhance monetization for publishers globally and further enhance the InMobi Exchange, company said in a statement.
It is expected that two-thirds of world’s digital display advertising will be traded programmatically by 2019 and advertising sold programmatically will increase from USD 57.5 billion to USD 84.9 billion.“Our decision to embark on this new adventure was made easy by the great partner we have in InMobi, their expertise in the industry and global scale. This will allow us to scale our platforms together across the globe and build a strong business in previously untapped markets such as China and broader APAC,” said Josh Speyer, Chief Executive Officer at AerServ.