Velti gets some Ad Infuse

Velti, an AIM-listed specialist in mobile advertising, has acquired US-based rival Ad Infuse Inc. The terms of the deal were not disclosed.

Velti, an AIM-listed specialist in mobile advertising, has acquired US-based rival Ad Infuse Inc. The terms of the deal were not disclosed.

The deal is in line with Velti’s strategy to expand its presence in the US. Alex Moukas, CEO of Velti, commented: “The acquisition of Ad Infuse will broaden our US team and enhance our global product offering. Mobile advertising and marketing continues to enjoy significant growth, even in today’s environment: the marketing landscape is changing and mobile is the catalyst for this.”

Velti added: “This transaction provides us with a proven management team, a strong client base and proven technology that will help us further accelerate our global growth.”

Velti reported robust trading figures, with revenues up by 164 per cent to $70 million (£46 million) and pre-tax profits of $17 million.

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary... More by Nick Britton