Mobile advertising platform, InMobi has announced the acquisition of Overlay Media, a context aware computing company, in hopes of improving consumer reach.
It’s a Mobile Advertising World
As more and more people use tablets, smartphones and other mobile devices on a daily basis, advertisers have started to see how important this medium is. According to recent statistics found in a report from RadiumOne, 41% of those surveyed clicked on a mobile ad within a three month time frame, 37% used a smartphone or tablet device while watching Television, 54% percent made an online purchase through a mobile device and 55% used a mobile device to compare shops at least once a week. Therefore, no matter what the type of advertising being used, print, social media, television or mobile, mobile devices play a critical role.
Marketers and their teams aren't the only ones who've started to see how important mobile advertising is. In the last year, developers have been working on improving their advertising platforms and tools. Social media sites, such as Facebook, have added a mobile advertising section, while other companies, such as Google, have worked on improving the customer experience -- for example, the new tool designed to decrease accidental mobile ad clicks.
The New Overlay Media-InMobi Connection
Founded in 2007 and based in the United Kingdom, Overlay Media is a context aware computing organization that develops mobile database technologies. One of its flagship products is the Context Engine, enabling "intelligent on-device behavior, wiser use of battery power and increased personalisation.”
InMobi, which recently bought Metaflow Solutions, a mobile app management and content distribution solutions provider, was also founded in 2007 and designs mobile-first engagement platforms.
While specific details surrounding this acquisition haven’t been released, InMobi will use Overlay Media tools to improve the quality of its products. Both companies seem very happy with this new venture.
According to Naveen Tewari, Founder and CEO of InMobi, this purchase is part of the InMobi’s dedication to producing high quality content for consumers. Dr. Ian Anderson, Overlay Media‘s CEO agrees.
At Overlay Media, our goal has been to develop technology that enables mobile devices to provide a highly personal and immersive user experience," said Anderson."We are excited to join InMobi to further their position as a market leader in mobile advertising."