• Bloomberg, Monday, March 5, 2012 11:59 AM

Reshaping mobile’s global landscape, Singapore Telecommunications (SingTel) has agreed to buy California’s Amobee Inc. for $321 million. For Southeast Asia’s biggest phone company, Amobee represents a toehold in the emerging field of mobile advertising.

“SingTel expects to generate growth by expanding the mobile ads business to offer deals targeted at consumers, such as through coupons and loyalty programs as it reduces the reliance on traditional phone services,” Bloomberg explains. “Wireless operators are counting on the popularity of smartphones such as Apple Inc.’s iPhone to drive up usage of data and applications to revive profit growth.” The acquisition of Redwood, California-based Amobee is expected to be completed by June, SingTel said Monday.

“Mobile devices today play an important role in everyday life,” SingTel said in the statement. “We want to capture that growth in developed and emerging markets with this acquisition.” Products from the acquisition will be introduced within a year. SingTel, meanwhile, also plans to reorganize itself into three businesses, including a consumer, digital services division, as well as an information technology division for large business and government customers.

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