The huge deal indicates the potential profits some companies believe can be made if advertising through mobile phones takes off over the next few years.
California-based Amobee has been heavily supported in its early years by venture funding from Cisco Systems, Accel Partners and Globespan Capital Partners among others.
SingTel said it plans to harness new opportunities in banner advertisements through targeted deals and reward programmes for customers as well as providing cutting-edge marketing tools for brands seeking greater audience engagement.
The company, which has more than 400 million mobile customers worldwide, is 55 per cent owned by Singapore sovereign wealth investor Temasek Holdings.
Allan Lew Ceo of SingTel’s Digital Life business, said, “The mobile advertising market is nascent and has significant potential for mobile operators, who are able to provide differentiated solutions across smartphones and feature phones, giving brands a better return on their marketing spend.
“We want to capture that growth in developed and emerging markets, starting with this acquisition.
“SingTel brings better value to customers as they are in control of the promotional message they receive.
“Likewise for brands, they will be able to reach out to the customers who are interested in their products and minimise wastage of ad spend.”
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