Mergers & Acquisitions

Mergers & Acquisitions

September 26, 2011

Velti to Acquire Air2Web, Buy Remaining Equity in CASEE

Velti (News - Alert) plc, a leading global provider of mobile marketing and advertising technology, recently signed an agreement to acquire Air2Web, a provider of mobile customer relationship management (mCRM) solutions in the United States and India for many of the world's largest and most trusted consumer brands.

Also, Velti announced today that it has signed a definitive agreement to acquire the remaining equity ownership interest of CASEE, the largest mobile ad exchange and mobile ad network in China. In 2008, Velti acquired 33 percent of CASEE, giving the company the ability to execute campaigns for global brands in China, and forming an important piece of Velti's global expansion strategy.

With the acquisition of Air2Web (News - Alert), Velti will be able to expand better its technology and data reach. Velti will now be able to provide improved access to carriers and verticals such as the financial services industry. Velti will be able to expand its footprints in India as Air2Web’s acquisition will increase its subscriber base.

"Air2Web's mobile CRM platform is attracting and retaining many of the most marketing-savvy Fortune 1000 brands including, among others, AT&T, Comcast, American Express (News - Alert), HSBC, Barclays Bank and Citigroup" said Alex Moukas, CEO of Velti, in a statement. "Through this acquisition, Air2Web's customers can now leverage Velti's comprehensive mobile marketing platform and global capabilities to increase the scope, scale, geographic reach and overall effectiveness of their mobile marketing strategies."

"The lasting partnerships we've built with trusted global brands have proven the strength, reliability and innovation of our mobile CRM platform and carrier-grade messaging infrastructure," said Jay Sheth, President and CEO of Air2Web Inc. "Together with Velti, I'm excited to say we now have the industry's leading end-to-end mobile marketing solution."

Meanwhile, Velti recently announced that it be leading a workshop at the 2011 OMMA Global New York on Sept. 26. Additionally, Megan Marks, manager of mobile

Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.

Edited by Rich Steeves


blog comments powered by Disqus

FREE eNewsletter

Financial Technology Industry News