-- 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
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; [email protected]