Mobile content discovery platform Digital Turbine has agreed to purchase US-based peer Mobile Posse in a deal reported by DC Inno to be about $66m in size, allowing telecommunications group SoftBank to exit.
Founded in 2005, Mobile Posse has developed a content discovery platform intended to be built into smartphones by original equipment manufacturers (OEMs) in order to provide an aggregated feed tailored to users’ individual tastes. It expected to announce $55m in revenue for 2019.
Digital Turbine CEO Bill Stone said: “The early returns on our internally-developed Media Hub product showcased exciting potential, thereby encouraging us to profitably accelerate our growth efforts with these types of content offerings, and Mobile Posse has a proven track record of being one of the very best at providing users with richer media content.
“With a similar-minded focus on promoting higher user engagement and boosting advertising revenue for mobile operators and OEMs, Mobile Posse’s content discovery platform is a perfect complement to our own existing platform offering.”
Mobile Posse had disclosed $17m in funding, including $5m in a 2012 series C round led by Harbert Venture Partners and backed by SoftBank’s now defunct Softbank Capital unit in addition to Court Square Ventures, Columbia Capital and unnamed individuals.
Softbank Capital had led the company’s $10m series B round in 2007, investing alongside Court Square Ventures, Columbia Capital and undisclosed private investors. It had received $1.5m from various angel investors the previous year, and QED Investors was also a backer.
