App Platform Phunware Acquires Tapit for $23 Million
The mobile app infrastructure and services firm Phunware announced its late 2012 acquisition of mobile ad company Tapit Media Group for $23 million. Phunware works with major media such as NFL, TCM, Univision, E!, ESPN, Fox and Discovery on app experiences and management.
Tapit is a monetization company that offers ad units, real-time bidding, self-serve media buying and analytics to 30,000 publishers. For its part, Tapit bring to the table customers that include Disney, Toyota, Amazon, EA Sports, Rovio and M&C Saatchi.
The ad service company will be rebranded as Tapit by Phunware as an ad network and mobile as a service monetization module for iOS and Android apps, the company says. Tapit claims to support 6 billion ad impressions a month across 160 countries. The combination positions Phunware to expand its presence as a cloud-based MaaS company. Phunware argues that brands increasingly will need better integration of services in one-stop shops that can serve international needs.
Tapit was co-founded by CEO Giancarlo Maniaci, who stated about the sale: “With the velocity of adoption and maturation of mobile increasing daily, we strongly believe that fully integrated, easy to use, simple to deploy and all inclusive mobile platforms like Phunware’s MaaS will soon define both 'best of breed' and the new global mobile standard.”