Mobile network provider Sprint has officially sold its mobile ad platform Pinsight Media to InMobi, the ad technology company.
Pinsight Media provides mobile data and brand intelligence to bolster consumer engagement. The company works with major US telecommunication businesses and advertisers.
InMobi plans to integrate the company into its own platform to provide CMOs with a more holistic view of consumers.
“Sprint’s partnership with InMobi goes beyond this acquisition. We have been looking for a strategic partner that can deliver the latest digital marketing and mobile advertising technologies, besides having a deep appreciation of regulatory, privacy, and data concerns,” said Rob Roy, Chief Digital Officer at Sprint. “This partnership provides Sprint with an innovative partner for driving our marketing success.”
The acquisition also means that InMobi’s Marketing Cloud will now be able to provide deeper insights and improved data management.
“With this acquisition we are creating the most powerful advertising and marketing platform for the U.S. market by unifying online and offline behaviour, and providing CMOs with a way to reach and engage consumers, while remaining compliant with privacy and data protection requirements,” said Naveen Tewari, Founder and CEO at InMobi. “This industry-first acquisition allows InMobi and Sprint to work on our respective strengths together, and provides a global template for partnerships between advertising platforms and telcos.”
As part of the deal, InMobi will be launching a new office in Kansas City. The company already has offices in San Francisco, New York, Los Angeles and Chicago. The announcement follows InMobi’s acquisition of AerServ earlier this year for $90 million in January.=