Update: Flipkart has confirmed the acquisition of Adiquity to MediaNama. Their statement: "Flipkart has acquired AdIQuity, a leading mobile ad network company. M&A is a key focus for us this year. And given our concentration on mobile, companies that have made a mark in this space will be on our radar. AdIQuity has a history of mobile innovations, extremely valuable experience in the ad space and a talented tech team - all of which are a great strategic fit for Flipkart." March 5th 2014: Ecommerce giant Flipkart has bought mobile advertising firm AdIQuity for an undisclosed amount, multiple sources have confirmed to MediaNama that the deal is done. According to the sources, the move will help Flipkart move into broader areas and foray into advertising. There will be two parts to this business: one part will involve external marketing, where brands can use Flipkart data on user behavior to target customers on the AdIQuity platform across publishers. For example, brands like Johnson & Johnson will be able to target customers who look at diapers on Flipkart with babycare products. The second part of the business will be in internal marketing where the AdIquity platform will be used to allow merchants to promote their products on Flipkart. Flipkart sees this as a significant source of revenue since they have large amounts of consumer data, and the transactions part of the business is a loss making business. It is also interesting to note that in a recent rejig at the company, Flipkart founder and group CEO Sachin…
