Internet media platform Blinkx has acquired mobile targeted advertising specialist LYFE Mobile in an all-cash transaction.
LYFE Mobile offers a mobile technology to programmatically deliver relevant ads to consumers based on their geographic location and other attributes, according to Blinkx. The company claims a reach of 100 million users in the US and 600 million worldwide through partnerships.
Separately, Blinkx has announced 2014 financial year revenues of US$247.2 million (€178.1 million), up 25%.
“At Blinkx our growth strategy is focused on three key areas — video, mobile and programmatic, which we feel represent the future of digital advertising,” said S Brian Mukherjee, CEO of Blinkx.
“LYFE Mobile is one of those rare companies operating in the sector that delivers in all three areas for blinkx. The acquisition enables us to fill a critical gap in our product portfolio, which would have otherwise taken years to build.”
While the acquisition is currently loss-making, Mukherjee said that this represented Blinkx’s first move into “the demand side of the programmatic ecosystem” and underscored its vision “to become the leading, fully integrated, cross device video advertising technology and data platform”.
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24 November 2020 @ 20:00:00 UTC