SingTel has signed an agreement to acquire US-based Amobee, a provider of mobile advertising services to operators, publishers, and advertisers globally. Under the agreement, SingTel will pay about USD 321 million for this acquisition. Headquartered in Silicon Valley, Amobee's management team will remain in active control of the company. With the acquisition, SingTel intends to become not only the leading mobile advertising company in Asia Pacific, but also among the top three worldwide. In addition, SingTel plans to change the game in this industry by delivering new relationship marketing tool for brands to give them more scope to deepen their one-on-one engagement with different audiences across different countries. The transaction is subject to certain conditions precedent, including satisfaction of applicable regulatory requirements, and is expected to complete before June 2012.
