– Offerpal Media, a
provider of virtual currency payment alternatives, announced on Tuesday that it
has acquired Tapjoy, the developer of a monetization and distribution service for
iPhone, Android and other mobile platforms.

Financial terms of the transaction
were not disclosed.

Launched in January 2009, Tapjoy has developed iPhone
applications including TapDefense, TapSudoku and TapWord, and said its reach
currently extends to over 35 million mobile consumers.

Founded in 2007, Fremont, Calif.-based Offerpal offers consumers the
ability to earn virtual currency by taking part in targeted advertising offers,
completing surveys or otherwise engaging with brands.

"The addition of Tapjoy provides us with a proven
product that dovetails nicely with our own platform strategy and creates
tremendous economic advantages for mobile developers," said Offerpal
chairman and CEO George Garrick.


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