Bangalore-based InMobi, a mobile advertising platform and solutions provider, today announced the acquisition of UK-based Overlay Media, experts in context aware computing. The financial details of the deal were not disclosed.
Overlay Media, which comprises of a team of data scientists, have built the Context Engine technology to deliver personalised content to mobile users. According to the company's website, Overlay flagship product, the Context Engine, enables intelligent on-device behaviour, wiser use of battery power and increased personalisation.
Naveen Tewari, Founder and CEO at InMobi said: “We are excited to add amazing talent to InMobi. This acquisition, along with Metaflow Solutions and MMTG Labs, will help us to continue to be at the forefront of delivering highly engaging content to consumers globally.”
The five-year-old company that raised $200 million (Rs 1,100 crore today) from Japanese media giant SoftBank in September 2011. Last year it acquired UK-based Metaflow Solutions, a provider of mobile applications management and distribution solutions and MMTG Labs. The company is backed by venture capital and PE firms like Kleiner Perkins Caufield & Byers and Sherpalo Ventures.
“At Overlay Media, our goal has been to develop technology that enables mobile devices to provide a highly personal and immersive user experience. We are excited to join InMobi to further their position as a market leader in mobile advertising”, said Ian Anderson, CEO at Overlay Media.
The Overlay Media team will be based from the InMobi London EMEA HQ.