Mobile Ad marriage: SmartReply snaps up MSnap
E-marketing firm SmartReply acquired mobile advertising specialist MSnap in an effort to increase its presence in the wireless device.
SmartReply, which distributes ads through voice messages, e-mail and text messages, seeks to create the largest U.S. mobile communications network through the acquisition, according to the post of MSnap website.
Terms of the deal were not disclosed, and MSnap and SmartReply were not immediately available for comment, but according to a report in The Wall Street Journal, MSnap shareholders will receive a minority stake in SmartReply.
MSnap, founded in 2006, has received investments from Partech International and First Round Capital.
Journal, referring to data from investment bank Partech, said that about 80 mobile marketing companies collectively raised more than $ 1.2 billion of venture funding in January 2006. During the same period, the magazine noted that 20 companies in this sector were purchased, totaling approximately $ 900 million.
Advertising sector experienced a large output in a weakened economy and industry analysts point to small companies and non-traditional media companies as the apparent purposes of mergers and acquisitions
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Tags: mobile advertising, SMS, text message advertising, text messages, venture funding
