Mobile ad-tech firm InMobi has acquired Los Angeles-based AerServ, which deals with inventory and audience monetisation technology for mobile publishers, for $90 million (around Rs 574 crore) in cash and stock.
Amidst declining revenues, InMobi hopes “the acquisition will enhance monetisation for publishers globally and enhance premium mobile programmatic platform InMobi Exchange,” it said in a statement.
“This acquisition fits with our global strategy to bring best-in-class technology for premium publishers and driving mobile programmatic video revenues to them. Our combined entities will double our headcount in the US while establishing a product and tech hub for InMobi in Los Angeles, a hotspot of innovation for media and video content,” said Abhay Singhal, co-founder and chief revenue officer at InMobi.
“We are two profitable companies combining forces in North America and this will cement our leadership position in video advertising, enabling us to continue investing heavily,” Singhal said.
Singapore-registered holding company InMobi Pte Ltd’s revenue dropped to $280 million in 2016-17 from $283 million in the previous financial year, according to filings with Singapore authorities. InMobi recorded a $12.7 million loss in the financial year ended 31 March 2017. The company claims that it has been EBITDA profitable since June 2016.
InMobi primarily earns from targeted advertisements on mobile apps of partner publishers. It gets revenues each time an end-consumer clicks an ad or downloads the subsequent offering.
In 2013, InMobi had acquired Overlay Media, a UK-based mobile data analytics startup for an undisclosed amount.
In July 2012, InMobi had acquired Metaflow Solutions, a UK-based mobile app management and distribution solutions company, for an undisclosed amount. In the same month, it had also acquired MMTG Labs, Inc, a US-based startup. Prior to that, the company had acquired US-based ad software developer Sprout for an undisclosed amount.
Founded as mKhoj by Naveen Tewari, Amit K Gupta, Abhay Singhal and Mohit Saxena, inMobi has twice tried to reinvent itself.
It started out as a mobile search platform before renaming itself and entering the advertising space. In 2015, it reappeared as Miip, a discovery-led mobile commerce platform which was shut down later.