Velti, the NASDAQ listed company which is a global provider of mobile marketing and advertising technology solutions has announced the acquisition of Air2Web, an enterprise mobile marketing and customer relationship management (mCRM) solutions provider operating in India and the United States. According to Velti, following the acquisition, Air2Web's customers will be able to leverage Velti's mobile marketing platform , while the deal deepens Velti's footprint in India through Air2Web. Financial terms: According to a press statement from the company, Velti has paid $19 million in cash for Air2Web and expects to keep in excess of $12 million of annualized revenue from the acquisition, the majority of which is derived from recurring platform licensing, usage and performance fees. Financial gains for Velti: Velti anticipates that Air2Web will generate approximately $3 million in revenue and $(1) million in EBITDA during the fourth quarter of 2011 and will become accretive to EBITDA in its first full quarter of consolidation post-acquisition. Velti expects the acquisition to close in the fourth quarter of 2011, subject to certain customary closing conditions, and accordingly intends to consolidate a portion of Air2Web's quarterly results. Velti's Venture with HT-Media: Velti is already present in the Indian market, albeit through a JV with HT Media to offer services related to mobile marketing and advertising – from conceptualizing the campaign to providing the platform for execution, with reporting and analytics. According to HT Media, the investment in the JV is small and Velti is more of a technology provider, while HT provides reach to advertisers. HT Media holds…
- The Fine Line: Regulating Real Money Gaming in India #QuickTake February 4, 2023
- Join the Club: Along with Telegram, WhatsApp Also Faces Copyright Infringement Cases at Delhi HC February 4, 2023
- Microsoft Teams Premium to incorporate ChatGPT: 4 key take aways February 3, 2023
- Update: Supreme Court Asks Indian Govt to Produce Records Issued To ‘Block’ BBC Documentary February 3, 2023
- RTI: Nearly 5,000 URLs blocked under Section 69A in the first 10 months of 2022 February 3, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...