YP acquires Sense Networks
YP is a local search and ad company that is owned by Cerberus Capital Management and AT&T. YP has announced today that they have acquired mobile ad company Sense Networks. The terms of the deal was undisclosed. The entire team behind Sense Networks will be brought into YP. YP reported over $1 billion in revenues last year.
Sense Networks is known for mining location and behavioral data. Through the acquisition, YP will be able to provide over targeted search and display ads. YP was created in 2012 after Cerberus bought a majority interest in the yellow pages company from AT&T for $950 million. This acquisition is YP’s first acquisition as a standalone company. However, we can expect to see more deals in the future.
“We expect to continue to make technology acquisitions and plan to aggressively maintain and build on our mobile advertising leadership,” stated YP CEO David Krantz.
[Source: New York Times]