(Photo by Pixabay user rawpixel, used under a Creative Commons license)
Arlington, Virginia-based Mobile Posse, a mobile advertising platform company, is set to be acquired by Austin-based Digital Turbine in a deal valued at $66 million.
Digital Turbine is a 22-year-old software company that provides products and solutions to mobile operators and app advertisers. This acquisition has the potential to bring in a good amount of revenue for the software company: Based on preliminary, unaudited financials, Digital Turbine said that Mobile Posse is expected to have generated more than $55 million in total revenue last year, according to a press release.
Founded in 2005, Mobile Posse has raised $16.5 million in venture capital to date, most of which was raised in 2007, according to Crunchbase. The company’s flagship product, Firstly Mobile, is a mobile content discovery platform comprised of three solutions to improve consumer engagement for telecomms companies.
“We believe that Mobile Posse’s content discovery platform and Digital Turbine’s distribution and relationships combine to create a powerful and highly-differentiated industry solution,” said Mobile Posse CEO Jon Jackson in a statement. “We look forward to joining forces to make that promise a reality.”
The acquisition deal is set to close this quarter and once the transaction is complete, Mobile Posse said the company will be branded with the Digital Turbine name. Outside of its Austin headquarters, Digital Turbine also has offices in San Francisco, North Carolina, Singapore and Tel Aviv. It is unclear if Mobile Posse will still operate in Arlington after the acquisition.
“I look forward to working with the highly skilled team at Mobile Posse to leverage our respective strengths and partner relationships in an effort to accelerate our mission to build the preeminent end-to-end mobile content delivery platform offering and thereby create additional, highly profitable, growth opportunities for Digital Turbine in the coming years,” said Digital Turbine CEO Bill Stone.-30-
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