InMobi, a global provider of enterprise platforms for marketers,has acquired the mobile advertising business of Sprint, Pinsight Media, in an all-stock deal.
This is the second acquisition of InMobi in 2018, after it bought AerServ, a free mobile mediation and revenue management platform, in January for $90 million.
Rob Roy, Chief Digital Officer of Sprint, said, "Sprint's partnership with InMobi goes beyond this acquisition. 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. This partnership provides Sprint with an innovative partner for driving our marketing success."
Naveen Tewari, Founder CEO of InMobi, also stated, "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."
Anurakt Jain, VP and GM, Strategic Data Partnerships, InMobi said, "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. InMobi is deeply committed to telco partners and building a unique data ecosystem to support our enterprise platform for marketers. The acquisition of Pinsight Media significantly enhances our ability to deliver intelligent consumer insights, audiences and customer engagement for CMOs."