Velti Acquires Mobile Interactive Group, Extending Its Lead as World's Largest Mobile Marketing Company
San Francisco, CA and London. November 15, 2011
Velti plc (Nasdaq:VELT), the leading mobile marketing and advertising technology provider for brands, advertising agencies, mobile operators and media, today announced the acquisition of Mobile Interactive Group ("MIG"), the UK's largest mobile marketing company. The acquisition expands Velti's lead as the world's largest mobile marketing company based on revenue, customers, consumer reach and technology holdings.
With more than $100 million in gross billings, more than $20 million in net revenues in 2010, and more than 160 employees MIG has established itself as a leading mobile marketing player. The company's global partnership with Skype, its Facebook Preferred Developer Consultant status and the launch of its mobile / broadcast interactive platform have won MIG accolades as a pioneer in bridging social media, mobile marketing and commerce transactions. Earlier this year, Deloitte named MIG the fastest growing privately owned technology firm in Europe.
MIG offers mobile marketing, mobile commerce and mobile billing services in 44 countries and has operations in the UK, US, Netherlands, Belgium and Australia. The company's technology platform is used by more than 300 enterprise customers including Skype, Vodafone, O2, PepsiCo, ITV, FIVE, Fremantle, BBC, Sony, Barclaycard, Marks & Spencer and NewLook. MIG's mobile interactive technology is used by broadcasters in Europe and the Asia Pacific region for real-time social media interactions through the mobile platform.
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