SingTel acquires Kontera and Adconion for $359 million
The digital advertising unit of Singapore Telecommunications (Singtel), Amobee, has announced that it is acquiring content marketing startup Kontera and cross-channel advertising company Adconion for $359 million. Amobee has programmatic advertising for digital and mobile ads and can display 3D mobile ads on Android/iOS.
Amobee delivers ads to 1.4 billion people on mobile devices through 1,000 ad networks and ad publishers. But through the acquisition, Amobee will gain display, video, email, and social advertising capabilities via Adconion. Amobee will also be able to obtain cross-platform data analytics and native advertising technology via Kontera. Kontera ads are recognizable from the double-underlined words in articles that pop up ads when the mouse hovers above.
“Together with Amobee’s advanced digital marketing technology and solutions, we will create relevant and innovative marketing campaigns across multiple channels for brands and advertisers,” Amobee chairman Allen Lew said in a prepared statement. “These acquisitions will further differentiate Amobee and help solidify its position in the digital advertising market.”
SingTel sells smartphones, phone plans, and Internet access. SingTel acquired Amobee in 2012. Launched in 2003, Kontera raised around $15.5 million in funding back in 2009 from Carmel Ventures, Sequoia Capital, and Tenaya Capital. The Adconion Media Group raised $80 million in 2008 and raised funding from Index Ventures and Wellington Partners.