Sprint sells mobile ad firm Pinsight Media to InMobi
InMobi has acquired Pinsight Media, the mobile data and advertising company created by wireless carrier Sprint in 2012, for an undisclosed sum.
InMobi acquires Pinsight Media
In an announcement of the all-stock deal, the two said it was “part of a broader strategic partnership between InMobi and Sprint across devices, data, media and marketing.”
It gives InMobi a stronger foothold in the mobile advertising market, which is expected to attract more than $6bn in ad spend this year, according to eMarketer.
It comes as Sprint, which is the fourth-largest US wireless carrier by subscribers, readies to sell itself to T-Mobile US in a deal estimated to be worth $26bn.
Pinsight uses data from leading US telecoms and advertisers to better target advertising. InMobi said the acquisition would build on its existing technology, combining network-level mobile data with data from mobile apps and web browsers to give CMOs “an integrated end-to-end view of consumers” and offer “superior targeting, engagement and retention.”
“With this acquisition, we are creating the most powerful advertising and marketing platform for the US market by unifying online and offline behavior and providing CMOs with a way to reach and engage consumers, while remaining compliant with privacy and data protection requirements,” claimed Naveen Tewari, founder and CEO at InMobi.
“This industry-first acquisition allows InMobi and Sprint to work on our respective strengths together and provides a global template for partnerships between advertising platforms and telcos.”
Sprint’s chief digital officer stressed that it would continue to work with Pinsight following the sale to InMobi.
“We have been looking for a strategic partner that can deliver the latest digital marketing and mobile advertising technologies, besides having a deep appreciation of regulatory, privacy, and data concerns,” said Rob Roy.
“This partnership provides Sprint with an innovative partner for driving our marketing success.”
InMobi has expanded its operations in North America to Kansas City, alongside San Francisco, New York, Los Angeles and Chicago.
It follows InMobi’s acquisition of AerServ for $90m in January and its recent partnership with Microsoft in June.
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