Velti dials up China growing mobile market

MARKETING   MOBILE   ACQUISITION

Beijing - Mobile marketing and advertising technology Velti has acquired CASEE a mobile ad exchange and mobile ad network in China to tap into its 850 million subscriber base.

In 2008 Velti had a 33% stake in the company allowing it to execute campaigns for global brands in China. The acquisition will give Velti a self-service platform as part of its expansion strategy.

“The acquisition also positions us optimally to capitalize on the rapidly expanding mobile marketing and advertising market in China," said Alex Moukas (pictured), CEO of Velti.

The new platform will connect mobile content publishers like Baidu and application partners to advertisers.  It offers clients far more targeted advertising capabilities to different provinces and cities in the region.  

"Combined with our 2010 acquisition of Mobclix, this will significantly enhance our global mobile exchange footprint, which is key to our strategy for continued growth,” Moukas added.

In a study conducted by TNS International China and GroupM, close to half of Chinese consumers (48%) are accessing the internet through their mobile devices, compared to globally where only 26% of consumers do so.

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