SingTel in talks to buy Amobee for $300-350m

SingTel is one of several companies interested in acquiring the Israeli mobile ads development company.

Mobile ads company Amobee Ltd. has been in acquisition talks with a number of companies for several months at a value of $300-350 million, including negotiations with Singapore Telecommunications Ltd. (SGX: T48, ASX: SGT) (SingTel). SingTel was in talks to invest in Amobee last year.

Amobee has raised $55 million from Sequoia Capital, Accel Partners, Globespan Capital Partners, and strategic investors Motorola Ventures, Cisco Systems Inc. (Nasdaq: CSCO), Telefonica SA (IBEX; NYSE: TEF; Euronext: TFA; LSE: TFE), and Vodafone plc (LSE; Nasdaq: VOD). Amobee was named the "Globes" most promising start-up for 2008-09.

Amobee was founded in 2005 by Zohar Levkovitz, who served as CEO until July 2011. Customers include Google Inc. (Nasdaq: GOOG) Zynga Inc. (Nasdaq: ZNGA), Skype, eBay Inc. (Nasdaq: EBAY), and Nokia Ltd. (NYSE; LSE; HEX: NOK). Its sales totaled tens of million of dollars in 2011.

SingTel has more than 400 million subscribers in 25 Asia-Pacific countries, including Singapore, Malaya, Thailand, Philippines, India, Pakistan, and Bangladesh.

Published by Globes [online], Israel business news - - on February 2, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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