Apple's acquisition of location-based data company Locationary last week is among the deals marking an active summer in mobile mergers and acquisitions. Looking ahead, "in our view, M&A in mobile advertising will increase over the next one to two years. We are seeing impressive revenue growth across many private companies, driven by underlying increase in mobile ad budgets by marketers and by innovation leadership from the startups," said Rajeev Chand, managing director and head of research at investment bank Rutberg & Co.

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