HomeBusinessInMobi acquires Sprint's mobile advertisement business

InMobi acquires Sprint’s mobile advertisement business



(Reuters) – Sprint Corp has sold the mobile data and advertising company it created in 2012 to InMobi, which provides technology for marketers, in an all-stock deal, the companies said on Wednesday.

The fourth-largest U.S. wireless carrier by subscribers is selling the company called Pinsight Media as it awaits regulatory approval to sell itself to larger rival T-Mobile US Inc. The value of the Pinsight deal was not disclosed.

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Pinsight uses data from wireless carriers to help companies better target ads on smartphones to the right audiences. That use of data was one major reason for AT&T Inc’s acquisition of media company Time Warner, which closed in June.

Pinsight will continue to work with Sprint after the deal, said Rob Roy, Sprint’s chief digital officer, in a statement.

Sprint’s sale of Pinsight comes as mobile advertising in the United States is expected to surpass television ad spending by more than $6 billion this year, according to eMarketer. The research firm estimates the gap will widen even more by 2022, with mobile spending at $141 billion compared to $68 billion on TV.

Former Pinsight Chief Executive Kevin McGinnis said in 2015 that the company hoped to grow to a $1 billion business.

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InMobi and Pinsight did not respond to requests for comment on whether Pinsight had reached that goal. Sprint declined to comment.

(Reporting by Sheila Dang Editing by Tom Brown)

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.

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