SingTel acquires U.S.based mobile advertising solutions company Amobee for $321 million

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Singapore Telecommunications has acquired Amobee Inc, a U.S.-based provider of mobile advertising solutions, for US$321 million.

SingTel plans to set up an independent company that will serve operators, publishers, advertisers and agencies with leading edge mobile advertising technology and services, in partnership with Amobee. It’s also aiming to tap new markets beyond mobile advertising such as targeted deals and coupons as well as loyalty-rewards programs for customers.

Separately, the company is establishing a new organizational structure comprising of three units -consumer, digital services and information and communications technology (ICT). Paul O’Sullivan, now the head of SingTel’s Australian unit, will lead the Group Consumer division and Allen Lew, SingTel’s head of Singapore operations will be in charge of digital services of this new establishment that will take effect on April 1.

SingTel, which holds significant stakes in six foreign mobile operators: India’s Bharti Airtel, Indonesia’s Telkomsel, Thailand’s Advanced Info Service PCL., Pakistan’s Warid Telecom, Philippines’ Globe Telecom Inc. and Pacific Bangladesh Telecom, has been facing stagnation in its traditional mobile telephone business, because of lower contributions from its associate companies, high customer costs and a rising local currency. With these new changes, the company hopes to capture emerging opportunities in the mobile advertising market.

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