For the second time in two months, mobile marketing powerhouse Velti PLC (Nasdaq: VELT) has announced a strategic acquisition, saying it will buy Europe’s fastest-growing private technology company, Mobile Interactive Group. The purchase solidifies Velti’s position as the world’s largest mobile marketing company based on revenue and customers. MIG’s customers include Skype, Vodafone, PepsiCo and Sony.
Velti is paying a minimum of $25 million for Mobile Interactive Group, which has had net revenue of $20 million over the past 12 months. In addition, Velti will pay MIG’s owners 7.5 times EBDITA over the next two years, up to a maximum of $34 million.
In September, Velti agreed to purchase Air2Web, a mobile marketing firm focused on the financial services industry, for $19 million.
Velti’s mGage platform provides mobile marketing and advertising technology and solutions to companies and advertising agencies. Its goal is to help its customers engage consumers via targeted, interactive and measurable campaigns delivered on mobile devices.
