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4-Traders Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Singapore Telecommunications Limited    STEL   SG1T75931496

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Singapore Telecom : SingTel's Amobee Buys US Mobile Advertising Start-Up Firm AdJitsu

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05/09/2012 | 07:14am CEST

-- SingTel unit Amobee buys AdJitsu for undisclosed amount

-- Amobee seeks to tap market for three-dimensional advertisements with acquisition

(Adds comment from Amobee chief executive in the 3rd and 6th paragraphs)

By Gaurav Raghuvanshi

Of

Singapore Telecommunications Ltd. (Z74.SG, SGAPY) unit Amobee has acquired a Silicon Valley-based start-up for an undisclosed amount, as it seeks to acquire the technology to create three-dimensional advertisements for mobile phones.

Amobee, a U.S.-based mobile advertising solutions provider was acquired by Southeast Asia's biggest mobile phone operator by customers for US$321 million in March this year. SingTel, which has been picky about acquisitions, aims to use Amobee to expand into mobile advertising technology and services and has said it will let it function as an independent company.

The acquisition of AdJitsu by Amobee follows cooperation between the two firms on mobile advertising campaigns, including one for the Lumia phone manufactured by Nokia Corp., that were well received by customers, Amobee Chief Executive Trevor Healy said Wednesday.

"Users spend significantly more time with the product they can play with, and they navigate the various product features in an almost life-like interaction. These ads delivered great results and convinced us that we needed to own this cutting-edge technology to bring the third dimension to our large advertisers' campaigns," Healy said in an emailed response to queries from Dow Jones Newswires.

SingTel didn't comment on the AdJitsu acquisition and the companies in the deal declined to state the price that was paid.

Healy said AdJitsu's employees have joined Amobee.

AdJitsu was a unit of Cooliris, based in Palo Alto, Calif.

-By Gaurav Raghuvanshi, Dow Jones Newswires; +65 64154 154; gaurav.raghuvanshi@dowjones.com

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Financials ( SGD)
Sales 2018 17 212 M
EBIT 2018 3 176 M
Net income 2018 4 258 M
Debt 2018 9 963 M
Yield 2018 4,88%
P/E ratio 2018 14,69
P/E ratio 2019 14,60
EV / Sales 2018 4,14x
EV / Sales 2019 4,01x
Capitalization 61 234 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 4,27  SGD
Spread / Average Target 14%
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Managers
NameTitle
Sock Koong Chua Group CEO & Non-Independent Executive Director
Simon Claude Israel Chairman
Cheng Cheng Lim Group Chief Financial Officer
Choy Peng Wu Group Chief Information Officer
Chin Kok Chong Group Chief Technology Officer
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