Bangalore: InMobi has acquired UK-based Metaflow Solutions for an undisclosed sum, the Bangalore and San Francisco-based mobile advertising network announced on Tuesday.
The latest acquisition comes less than a month after InMobi bought over San Francisco-based MMTG Labs. The financial details of both transactions are yet to be disclosed by the parties involved.
"Our acquisition of Metaflow Solutions will help us to continue to rapidly expand the distribution and monetisation of content for our developers and publisher partners," Naveen Tewari, founder and chief executive, InMobi, said in a press statement.
Metaflow, a mobile app management and distribution company, will see its entire team absorbed by InMobi, and will become an integral part of InMobi's developer-oriented efforts, led by Piyush Shah, vice-president and general manager, developer platforms and performance advertising, according to the press release.
"With the recent acquisition of MMTG Labs, along with today's acquisition of Metaflow, we will augment our value proposition by offering highly compelling distribution, monetisation, and engagement solutions to app developers globally," Shah said.
The latest deal is further affirmation of InMobi's strategy of growing through the inorganic route, as it looks to unseat global leaders Google and Apple in the $6 billion global mobile advertising industry.
The company has been intensifying its efforts to capture a greater share of the lucrative North American market, which contributes almost a quarter of the global market share. It estimates that it reaches about 500 million consumers, in over 165 countries, through more than 93.4 billion mobile ad impressions monthly.
InMobi has significantly ramped up its acquisition activity, after Japanese telecom company SoftBank invested $200 million in September 2011, and what is still regarded as one of the largest investment in the mobile internet space till date.
The investment - which was paid out in two tranches - has played a significant role in bulking up InMobi's war chest as it scouts for companies to add to its portfolio.
Other backers of the start-up include venture capital firms Kleiner Perkins Caulfield Byers and Sherpalo Ventures, both of which have invested $15.6 million across three rounds of funding, prior to the SoftBank investment.
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