Israeli mobile ad technology developer Appsfire has been acquired by France's Mobile Network Group (MNG) for $30 million. Appsfire, which was founded six years ago, confirmed the report in a blog on its site but did not officially disclose the amount of the acquisition. MNG is France's leading independent mobile ad network.
According to IVC Research Center, Appsfire has raised $4.1 million from the French investment fund Idinvest, Lerer Investment Fund and Golan Telecom owner Xavier Niel. The company was founded by CEO Ouriel Ohayon and CTO Yann Lechelle in 2009. The company is headquartered in Paris with offices in California and its development office in Tel Aviv.
Initially Appsfire focused on an app search engine to navigate more easily among the tens of thousands of apps in stores, presented according to country, recommendations, and discounts. The app lets users see apps installed with friends and if it's worth downloading. But in December 2013, the company changed direction to enter the world of mobile marketing and advertising.
The acquisition will give MNG a foothold in the US market where Appsfire has been working since its change of direction.
Ohayon said, "We decided to join forces because we share the same culture of innovation and the same desire to develop in the world of mobile ads. The merger will give us access to MNG's customer base and allow us to continue developing Appsfire in global markets."
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2015
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