Sprout will retain fully independent operations after the acquisition, and will continue to expand its products through workflow enhancement, analytics and new ad unit additions. InMobi gains Sprout’s expertise in building rich media ads that run within mobile apps, streamlining many of the complications inherent in running a campaign across both Google Android and Apple iOS devices.
“Sprout’s technology solves a critical need for the industry by helping bring engaging mobile ad experiences to consumers all around the globe,” Naveen Tewari, CEO of InMobi, said. “The acquisition fits perfectly with our vision to enable the mobile ecosystem with best of breed technology and services. The entire industry will benefit from the combination of our technology and operational footprint on five continents and Sprout’s platform.”
Sprout, which started as a builder of Flash-based widgets before pivoting to an HTML5 software focus, previously raised a total of $10 million from Global Venture Capital, Mitch Kapor and Polaris Venture Partners. Its clients include Chevrolet, Disney, Paramount Pictures, HBO, EA HTC and Nokia.
The financial details of the acquisition were undisclosed.
http://tinyurl.com/3mxnal6 (PR Newswire)