SinglePoint, a US-based mobile interactivity and SMS advertising services company, is acquiring M2Junction, a leading mobile advertising startup in Hyderabad, according to media reports. The acquisition marks the entry of SinglePoint in the Indian market.
M2Junction provides SMS marketing solutions in voice, data, and video category to advertisers via mobile platform. It had been a partner and collaborator of SinglePoint, according to the information available on the company website. The financial details of the transaction are not known.
For SinglePoint, the development came days after it sold its mobile aggregation business to Swedish firm Ericsson, a leader in 2G, 3G and 4G mobile technologies. These assets are used in sending premium and standard text messages.
Gowri Shankar, CEO of SinglePoint, who is quoted in the report, says that the company finds incredible mobile advertising opportunity in India and wants to leverage the opportunity through M2Junction. “We at SinglePoint want to be a part of this growth and revolutionize the Indian industry with our offerings,” Shankar added.
SinglePoint offers services to publishers, brands, and advertising agencies. It currently has a reach to 300 million wireless subscribers. Some of its clients include NBC Universal (Bravo, Oxygen, SyFy, CNBC, MSNBC, Telemundo, USA Network), ABC/Disney, Viacom and CBS Corporation. M2Junction has its corporate office in Dallas, USA.
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