Consumer behaviour insights provider Affle has agreed to buy Spain-based mobile marketing technology developer Mediasmart for an undisclosed sum, enabling mobile marketing agency Mobile Dreams Factory to exit, Business Standard has reported.
Founded in 2011, Mediasmart runs a programmatic marketing optimisation service, allowing advertisers to automate the purchase of ad space for display on mobile devices based on audience metrics such as user location and demographics.
Affle expects the technology to complement its existing customer conversion and multi-marketing channel offering, while preparing the ground for expansion across Europe and the US as well as new regions like Latin America.
Mobile Dreams Factory took part in a $2.8m round for Mediasmart in 2015 alongside Kibo Ventures, Inveready Technology Investment Group and private investor Michael Kleindl according to Ad Tech Daily.
Kibo Ventures and Kleindl’s personal investment vehicle, Komm Investment, had supplied $1.3m in funding for the company in 2013.
Anuj Khanna Sohum, chairman, and chief executive of Affle, said: “Mediasmart has the perfect team, culture and tech platform for Affle to build greater strategic presence in Europe, US and Latin America.”