PE-backed InMobi acquires Overlay media

The acquisition makes use of the $200 million investment InMobi received from Japanese telecom firm Softbank last September. InMobi will use Overlay Media, which comprises of a team of data scientists, to improve how it targets and personalizes ads to specific users through its Context Engine technology.

Financial details of the transaction were not disclosed.

InMobi has already made two acquisitions in the last six months, having bought San Francisco start-up MMTG Labs in July and UK firm Metaflow - in order to improve its mobile ad distribution - shortly after.

"We are excited to add amazing talent to InMobi. This acquisition, along with Metaflow Solutions and MMTG Labs, will help us to continue to be at the forefront of delivering highly engaging content to consumers globally." Naveen Tewari, founder and CEO of InMobi, said in a statement.

This is the company's first acquisition since it received Series C funding from Softbank, which was issued in two tranches of $100 million. InMobi is also backed by Kleiner Perkins Caufield & Byers and Sherpalo Ventures, which are thought to have committed $15 million to the company. InMobi first received $500,000 in seed funding from Mumbai Angels back in 2006.

Founded in Banglaore, InMobi claims to run an advertising network that reaches 340 million customers in over 165 countries, through more than 47 billion mobile ad impressions monthly. 

The company is positioning itself as an independent alternative to Admob, which was acquired by Google for $750 million in 2010, and Apple's iAd, a division that arose from the purchase of Quattro Wireless for $275 million last year.

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• Topics
• South Asia
• North Asia
• Buyouts
• Expansion
• Technology
• TMT
• India
• Japan
• Kleiner Perkins Caulfield & Byers