US-based mobile adtech producer Heyzap has been acquired by mobile advertising company RTNS Media in a deal worth up to $45m, providing an exit to shareholders including wireless communications technology developer Qualcomm.
Heyzap has received $20m in cash and is entitled to further payments of up to $25m in cash and stock if it meets certain performance targets by 2017.
Founded in 2008, Heyzap operates an online platform that enables app developers to monetise their software. The platform lets developers compare the performance of advertising networks against each other and helps ensure their campaigns remain efficient.
Heyzap will be integrated with RTNS Media’ subsidiary Fyber, which offers a range of app monetisation tools. The company’s staff will join Fyber.
Heyzap had raised approximately $8m in funding, securing $4.3m in a 2013 series B round featuring Qualcomm and Union Square Ventures. Its other backers include accelerator Y Combinator and angel investors such as Naval Ravikant and Ashton Kutcher.
Andreas Bodczek, chief executive of RNTS Media, said: “The acquisition of Heyzap complements our strategy at RNTS to grow Fyber’s market position by playing an active role in the consolidation of the mobile advertising industry.
“As the proliferation of mobile devices continues to gather pace, we are dedicated to ensuring Fyber remains well positioned to support developers with industry-leading mobile app monetisation products. We will continue to execute on this strategy in the coming year.”