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InMobi, an enterprise platform for marketers announced the acquisition of Pinsight Media, the mobile data and advertising company formally wholly owned by Sprint Corporation - one of the largest telecom companies in the US.
This all-stock deal is part of a broader strategic partnership between InMobi and Sprint across devices, data, media, and marketing.
“Sprint’s partnership with InMobi goes beyond this acquisition. We have been looking for a strategic partner that can deliver the latest digital marketing and mobile advertising technologies, besides having a deep appreciation of regulatory, privacy, and data concerns. This partnership provides Sprint with an innovative partner for driving our marketing success,” said Rob Roy, Chief Digital Officer at Sprint.
The acquisition also brings deep insights and cutting-edge data management to the InMobi Marketing Cloud.
"With this acquisition, we are creating the most powerful advertising and marketing platform for the US market by unifying online and offline behavior, and providing CMOs with a way to reach and engage consumers, while remaining compliant with privacy and data protection requirements,” said Naveen Tewari, Founder, and CEO at InMobi.
He added, “This industry-first acquisition allows InMobi and Sprint to work on our respective strengths together, and provides a global template for partnerships between advertising platforms and telcos.”
As a result of this acquisition, InMobi will expand its operations in North America to Kansas City, alongside San Francisco, New York, Los Angeles, and Chicago.
This move follows InMobi’s acquisition of AerServ for $90 million earlier in January, and its recent partnership with Microsoft in June.
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