SOURCE: Velti Plc

Velti PLC

October 01, 2010 02:59 ET

Velti Acquires Mobclix

Acquisition Provides Velti a Mobile Ad Exchange, Connection to More Than 15,000 Mobile Application Developers

SAN FRANCISCO, CA and PALO ALTO, CA--(Marketwire - October 1, 2010) - Velti (LSE: VEL) (AIM: VEL), a leading global provider of mobile marketing and advertising technology, today announced the acquisition of Mobclix Inc. ("Mobclix"), a leading privately-held mobile ad exchange network.

The acquisition gives Velti a mobile ad exchange that:

  • Connects more than 25 online, video and mobile ad networks including Millennial Media, Jumptap, InMobi, Traffic Marketplace, Mojiva and Smatto
  • Serves and monetizes more than 3,280 ad requests per second or 8.5 billion ad requests per month through more than 15,000 mobile application developers who collectively have downloaded the Mobclix SDK more than 312,000 times
  • Has served 33 billion ad impressions on more than 100 million unique smartphone devices

Mobclix was founded in 2008 by Vishal Gurbuxani, Sumit Rai, Krishna Subramanian and Sunil Verma as an open, bid-based marketplace for mobile developers, advertisers, ad networks and agencies and has more than 25 employees and contractors. The Mobclix embedded SDK (software developer kit) is used by iPhone, iPad, Android and Windows developers as a way to develop applications, then to sell, track and manage the ad inventory on those applications. Mobclix yield optimization technology enables developers to obtain favorable pricing from multiple ad networks, while the Mobclix platform enables publishers to view reporting on the performance of their inventory, easily add or subtract networks and have revenue consolidated in a single convenient payment.

Advertising networks access the Mobclix marketplace in order to purchase targeted inventory across mobile applications.

"Mobclix has established itself as an innovative and important player in the areas of mobile applications and analytics," said Alex Moukas, CEO of Velti. "In concert with Velti's existing software-as-a-service-based mobile marketing and advertising solutions for agencies, brands, mobile operators and media organizations, we believe the combined companies present a valuable resource."

"Joining a global leader in mobile marketing like Velti is the natural next step in the growth of our team, technology and customer community," said Krishna Subramanian, Co-Founder of Mobclix. "We see important synergies between Velti's technology and customer base, aligned with the innovation and passion of the Mobclix team. We are excited about what we can do together."

About Velti
Velti is a leading global technology provider of mobile marketing and advertising solutions that enable brands, advertising agencies, mobile operators and media to implement highly targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. Our technology platform, called Velti mGage, allows customers to use mobile and traditional media to reach targeted consumers, engage the consumer through the mobile internet and applications, convert them into customers and continue to actively manage the relationship through the mobile channel. In the first half of 2010, over 500 brands, advertising agencies, mobile operators and media companies have used our platform to execute more than 1,200 campaigns, reaching consumers in more than 35 countries. Velti is a publicly-held corporation based in Jersey which trades on the London Stock Exchange's AIM under the symbol VEL. For more information, visit www.velti.com.

About Mobclix
Mobclix (www.mobclix.com) is the industry's largest targeted mobile ad exchange -- the first open marketplace for mobile developers, advertisers, ad networks and agencies. The Mobclix ad exchange provides complete transparency and visibility for mobile publishers to manage their ad inventory and maximize revenue and for advertisers to increase campaign performance. Mobclix is a privately held company headquartered in Palo Alto, Calif. The company was founded in September 2008 as a TechCrunch 50 company and has since been named a Seedcamp winner, an AlwaysOn 250 winner in 2009 and 2010 and won the ad:tech Limelight award.

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