InMobi acquires U.S.-based rich-media company

08/4/2011 | Economic Times (India), The

Mobile advertising company InMobi, based in Bangalore, India, has purchased rich-media advertising company Sprout for a sum a source says is between $20 million and $50 million. "This acquisition will help scale the use of rich-media advertising globally -- a critical next step in helping the industry realize its full potential," said Ajit Nazre, a partner at InMobi investor Kleiner Perkins Caufield & Byers. Falling handset and data prices have driven the growth of the market in India, said Naveen Tewari, founder and CEO of InMobi.

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Economic Times (India), The

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