Glispa furthers LATAM presence with purchase of Brazil-based Mobils
Performance-based mobile advertising outfit Glispa has acquired Sao Paolo-based mobile marketing outfit Mobiles in an attempt to capitalise on the high-growth Brazil m-commerce market, the company has announced today (17 May).
The financial details of the purchase of the transaction were not publicly disclosed, although the transaction does follow an earlier tie-up between the pair last month, with the deal now giving Glispa direct relationships with a host of LATAM brands such as Webmotors, Netshoes, and iFoods, as well as blue-chip brands including Coca-Cola, McDonald’s and Samsung in the region.
It remains unclear as to whether the Mobils brand will remain after the closure of the purchase by Berlin-based Glispa, but the move represents its latest expansion into the potentially lucrative "BRIC" markets of Brazil, Russia, India and China.
Commenting on the company’s global expansion strategy, Gary Lin, Glispa, CEO, said: “We recognised early on that the Latin American market presented immense online marketing opportunities and now with mobile burgeoning, we’re well positioned to capitalise on this trend.”
Meanwhile, Paulo Maia, CEO of Mobils, said the purchase would enhance its technology, and account management capabilities to both existing, and prospective clients.
The purchase amounts to Glispa’s second of 2016, following the acquisition of MoneyTap – a ‘mediation platform’ which helps publishers decide on the best ad to use within their app from a variety of sources – and rebranding it as Ampiri.
Both these deals follow the Germany-based company scoring $177m in funding from Market Tech Holdings in the first quarter of last year, with the company additionally adding that it finished 2015 with a run-rate of $100m.