Technology company Xurpas Inc has acquired mobile advertising network Art of Click for $45m in order to expand its mobile client business.
After the stock market closed Thursday, Xurpas disclosed that it had bought 100% in the mobile ad firm from private equity firm Wavemaker Labs and Art of Click CEO Emmanuel Alix.
Art of Click provides mobile marketing solutions
Art of Click is a Singapore-based firm that lets mobile marketers optimise their mobile campaign performance and post-click events through performance-based solutions and insights.
Founded in 2011, the company has quickly grown to $11.2m in revenue in 2016. That’s a 315% increase since its foundation.
For Xurpas, which provides a portfolio of mobile technology and products, the addition is meant to lift revenue and profits and help accelerate the expansion of its mobile consumer business.
Raymond Gerard S. Racaza, President and Chief Operating Officer, Xurpas, explained:
“Our main growth driver is largely mobile consumer services. Since our IPO, we have strategically invested in companies that will boost our content offering for the mobile subscriber. We love the fact that Art of Click has the capability to tremendously enhance this core business unit. Right now, we are developing revolutionary mobile consumer platforms that integrates our various investments.”
The deal is partially being paid for in cash and shares. As such, Xurpas has signed a subscription agreement to issue shares to Alix and Wavemaker.