TapIt Media Acquired By Phunware For $23M

Irvine, California-based TapIt Media Group, the operator of a mobile advertising network, has been acquired by mobile apps infrastructure developer Phunware, the two firms announced Wednesday. Phunware said it paid $23M for TapIt, in a deal which closed on December 28th. Phunware said that all of TapIt's facilities and employees join the company. TapIt Media ran a mobile advertising network, with a reach of over six billion ad impressions per month, across 30,000 active publishers, the firms said. TapIt Media was advised by Siemer & Associates in the deal.