By Writer Ingrid Lunden of TechCrunch
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Amobee, the mobile advertising company bought last year by SingTel for $321 million, has made an acquisition of its own to build out its platform with more ad-tech features. It has bought Gradient X, a young Los Angeles-based developer of a real-time bidding platform for mobile ads, which only just exited from beta earlier this summer.
The exact price is not being disclosed, but I’ve dug around and understand that it’s in the tens of millions of dollars. Not bad for a startup that had only raised $3.75 million, from backers who included Mark Suster’s Upfront Ventures, Founder Collective, Rincon Venture Partners and many more.
Trevor Healy, the CEO of Amobee, tells me that the acquisition is as much about picking up a product that fills a need at Amobee, as it is about picking up some key talent. That includes CEO Brain Baumgart (formerly chief strategy officer at Adconion Direct), CIO Julie Mattern (co-founder and formerly the chief technologist at the Rubicon Project), and CTO Michael Lum (former head of engineering at OpenX) — all of whom will be joining Amboee, both to work on Gradient X’s existing RTB product and also “to do more work for us in the future.”
Read the Full Story Here: http://tcrn.ch/17By2Pd
