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BRIEF: Singapore Telecom buys mobile ad firm for 321 million dollarsSINGAPORE, Mar 05, 2012 (dpa - McClatchy-Tribune Information Services via COMTEX) -- Singapore Telecommunications Ltd, South-East Asia's largest telecoms firm, said Monday it was buying US-based digital advertiser Amobee Inc for 321 million dollars. SingTel said its 100-per-cent buyout of Amobee would boost mobile advertising sales in India, Thailand, the Philippines, Indonesia, Bangladesh and Pakistan, where it has large affiliates. "A vast majority of our 400 million clients are in emerging markets," company digital executive Allen Lew said. The global mobile advertising market is likely to be worth more than 20 billion dollars by 2015, up from about 7 billion this year, according to technology research firm Gartner. "The company is currently a start-up so we are going to have to do a lot of things for it to achieve its potential," Lew said. Founded in 2005, Amobee is based in Redwood City, California, and has offices in Europe, Asia and Latin America. ___ (c)2012 Deutsche Presse-Agentur GmbH (Hamburg, Germany) Visit Deutsche Presse-Agentur GmbH (Hamburg, Germany) at www.dpa.de/English.82.0.html Distributed by MCT Information Services |