Tuesday, May 12, 2009

Ad Infuse Acquired By UK Firm

London-based mobile marketing firm Velti announced Tuesday that it has acquired Ad Infuse, a personalized mobile advertising services provider headquartered in San Francisco. Financial terms of the deal were not disclosed. According to Velti, the merger will solidify its standing as the world's largest mobile marketing and advertising firm while also bolstering its position in the U.S. market. Velti said it will immediately integrate Ad Infuse's management team and technology into its global operations. Velti explained that the integrated company will boast more than 400 employees and operations in the United States, Europe, China, India and the Middle East. Velti added that Brian Cowley, Ad Infuse's chief executive officer, has been named general manager of Velti North America. Ad Infuse was venture backed by SoftBank Capital, ComVentures and Storm Ventures.