Bengaluru-based mobile advertising and discovery platform InMobi today announced that it has acquired US-based mobile data and advertising platform, Pinsight Media in an all-stock deal.
Pinsight Media was formerly owned by American telecommunications company Sprint. According to InMobi, the acquisition deal is a part of a broader strategic partnership between InMobi and Sprint across devices, data, media and marketing.
Pinsight Media was founded in 2012. It is a mobile data and brand intelligence company that works with American telcos and advertisers across verticals including consumer goods, retail, entertainment and finance.
The acquisition will help InMobi to meet the consumer expectations via improved customer understanding for superior targeting, engagement and retention.
Further, it will also provide deep insights and innovative data management platform to the InMobi Marketing Cloud which will help enterprise marketers better understand the user behavior and an AI-powered marketing strategy.
Naveen Tewari, Founder and CEO at InMobi said, “With this acquisition we are creating the most powerful advertising and marketing platform for the U.S. 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” .
Additionally, under this deal, InMobi will expand its operations in North America to Kansas City, alongside San Francisco, New York, Los Angeles and Chicago.
Other Initiatives Taken By InMobi
InMobi has been taking initiatives to develop its technology and scale up this year as this development comes within four months of its partnership with Microsoft Corp in June.
Under this partnership, InMobi shifted to Microsoft Azure which claims to provide the global scale and platform to meet the needs of the marketing industry with more regions than any other cloud provider.
Earlier this year in January, InMobi had acquired US-based mobile mediation and revenue management platform AerServ with an aim to create industry’s first ad mediation platform with a unified programmatic auction for mobile in-app publishers.
Scope Of Growth For InMobi
InMobi has so far, raised a total of $320.6 Mn in funding over six rounds and its latest funding came from a debt financing round in 2015.
According to a September 2018 report by IDC, in spite of ongoing intense mergers and acquisitions activity, the global advertising software market is still highly fragmented. The top 15 vendors represented less than 40% of the overall market in 2017 with a multitude of small, specialised vendors with limited revenue making up the rest.
This means that InMobi has a lot a opportunity to grow. The overall market for advertising software grew at 38% year over year from $9.2 Bn in 2016 to $12.7 Bn in 2017.
At these spending levels, advertising technology sales stood for 4.7% of total ad sales (2017), up from 4.0% (2016). “We expect this share to grow to 7.8% by 2022 as the industry’s push for advertising automation continues and the overall volume of spending on advertising continues,” IDC report added.