Phunware Buys TapIt For $23 Million

Posted Jan 2, 2013

Phunware is an enterprise mobile application infrastructure company that has acquired TapIt Media Group.  Phunware acquired TapIt for a total of $23 million.  The acquisition was closed officially on December 28th.  The transaction was already agreed upon by the board of directors at both companies.  Phunware will assume all of TapIt’s facilities and employees in Irvine, California and Rockville, Maryland once the deal closes.

TapIt is a mobile advertising network and a mobile-as-a-service monetization module for iOS and Android.  TapIt will become the core of Phunware’s cloud-based MaaS advertising platform.  TapIt represents around 30,000 active publishers and they have a self-service media buying and real-time bidding platform.  TapIt currently supports over 6 billion ad impressions per month in over 220 countries worldwide.

“We are extremely excited to add further breadth and depth to the existing global scale of our core MaaS platform product offerings,” stated Phunware co-founder and CEO Alan S. Knitowski. “The TapIt acquisition and the talent and expertise represented by its employee base will not only accelerate our operational velocity to start 2013, but it will also cement our leadership position as the dominant ‘mobile cloud’ provider globally.”

Phunware’s customers include NASCAR, the NFL, NBC Universal, The CW, ESPN, E!, Demand Media, Daily Candy, samsung, Discovery, etc.