SingTel moves into mobile ads to boost revenue

March 05, 2012 | 08:45

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Singapore Telecom said it has agreed to buy US-based Amobee, a mobile marketing and advertising company, for about $321 million.

Singapore Telecom said it has agreed to buy US-based Amobee, a mobile marketing and advertising company, for about $321 million

Southeast Asia's biggest telecom firm by revenue said in a statement: "SingTel is expanding its presence into the fast-growing mobile advertising and marketing industry.

"SingTel fully intends to harness these opportunities to become not only the leading mobile advertising company in Asia Pacific, but also among the top three worldwide," it said.

It added there were revenue opportunities beyond mobile advertising such as targeted deals, coupons and customer loyalty rewards programmes.

Silicon Valley-headquartered Amobee's management team will remain in control of the unit and will "serve operators, publishers, advertisers and agencies with leading edge mobile advertising technology and services," SingTel said.

The company said Amobee will complement its reach in Singapore and across Asia, where Singtel already has strategic stakes in a number of mobile phone operators.

SingTel, whose net profit fell nearly 10 per cent in its financial third quarter ended December 31 to Sg$902 million ($719 million), also has a wholly owned subsidiary in Australia called Optus.

Amobee is headquartered in Redwood City, California and has offices in Europe, Asia and Latin America.

AFP

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