SingTel acquires Silicon Valley mobile advertising startup AdJitsu
09 May 2012
Singapore Telecommunications Ltd (SingTel), Southeast Asia's largest telecoms company, yesterday acquired Silicon Valley mobile advertising startup AdJitsu, for an undisclosed sum.
The acquisition comes two months after SingTel acquired Redwood City, California-based mobile advertising company Amobee for $321 million, which has executed the acquisition of AdJitsu.
AdJitsu was a wholly-owned division of another mobile advertising company Cooliris, but was spun off into a separate unit in December 2011. It provides ad networks and publishers with an engine to display 3D advertisements that let users ''touch'' objects in ads and explore them.
The AdJitsu engine runs 3D advertising on the iPad and the iPhone, and the company is currently developing an HTML engine.
The Palo Alto, California-based company has received a lot of interest from both advertisers and ad networks, and has snapped up clients like Nokia, BMW and AOL.
AdJitsu is backed by Cooliris, Kleiner Perkins Caufield & Byers, DAG Ventures, The Westly Group, and Deutsche Telekom's T-Venture.
