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Mandalay Digital Group Purchases Xyo Technology [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Mandalay Digital Group reported its purchase of Xyo's app search engine and contextual advertising technologies. In its release on Oct. 9, the Company said that Digital Turbine will immediately integrate Xyo's technology into its products. Xyo's existing mobile operator relationships, including Deutsche Telekom Europe and Vodafone are included in the transaction. "There's a shared vision between both companies on the significant opportunity for operators and OEMs to distribute and monetize mobile content," said Bill Stone, Chief Executive Officer of Digital Turbine. "There is a huge consumer appetite for finding and recommending the right app at the right time, versus wading through thousands of apps in the app store. This presents a significant opportunity for us at a time when our Ignite and IQ products are just beginning to ramp around the globe." Xyo co-founders Zoe Adamovicz and Marcin Rudolf will join the Digital Turbine team. Adamovicz will run Digital Turbine's EMEA operations and Rudolf will head Digital Turbine's R&D and technology development. All of the new employees are based in Berlin. "As part of Digital Turbine, Xyo's revolutionary app discovery technology will reach consumers at scale much more quickly. But apps are just a start. Consumers have entered a new age where digital content is personally recommended on their phones," Adamovicz said. "We are very excited to be part of Digital Turbine as we work together to develop new technologies that can help shape this consumer world." "The rising adoption of mobile devices is challenging the search box, the dominating discovery tool of the internet for the last 15 years," Rudolf said. "Consumers don't like to type their queries into search boxes on small smartphone screens and apps are a unique type of content requiring a different, more efficient discovery mechanism. Xyo is a technology leader in this field and our clients benefit from the widest and most advanced data sets for recommendations. It is a very exciting time to be in the middle of a huge market trend." Additional material terms about the transaction can be found in the Current Report filed with the Securities and Exchange Commission by Mandalay Digital on Form 8-K. The filing can be accessed through the SEC's website at sec.gov. ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |