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IBM buys VC-backed mobile marketing company Xtify

7 Oct 2013

Global computing giant IBM has acquired Xtify, a venture-capital-backed provider of cloud-based mobile messaging tools.

The company’s technology helps organisations improve mobile sales, drive in-store traffic and engage customers with personalized offers. The acquisition will help extend IBM’s mobile capabilities to digital marketers across all industries ranging from retail to citizen engagement in the public sector through cloud-based services, it said.

Technology research firm Gartner predicts that worldwide mobile payment transaction values will reach $235.4bn in 2013, a 44 per cent increase from 2012. These increases will continue at a 35 percent annual growth rate to a $721bn market with 450 million users by 2017.

“The premise is simple: mobile content and promotional offers are far more useful when delivered directly to consumers at the right time. Relevant and actionable offers are key to mobile marketing success,” said Xtify CEO Josh Rochlin.

Xtify is among the most recent investments that IBM plans to run on its SoftLayer cloud infrastructure that operates in 140 countries. IBM has invested more than $6bn in cloud-related acquisitions.

The company previously secured investment from venture capital firms Acadia Woods, ETF Venture Funds and SeventySixCapital, alongside other angel investors.

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