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 - www.globes-online.com - on February 2, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012