• June 3, 2010

Mobile ad company Velti has acquired Media Cannon to help clients create rich media ads for mobile devices more easily. Terms of the deal were not disclosed.

"Together with our acquisition of Ad Infuse last year, this deal illustrates the strength of our commitment to the U.S. market," said Velti CEO Alex Moukas in a statement. He added that the company's rich media mobile expertise and technology would be integrated into Velti's mGage platform, which provides a one-stop-shop for planning and buying mobile media.

Under the deal, all of Media Cannon's staff will be folded into London-based Velti's San Francisco office.

The acquisition underscores efforts by vendors to offer more sophisticated mobile ad solutions in the wake of Google's deal for AdMob and Apple's launch of the iAd platform after acquiring Quattro Wireless. Other mobile ad companies in recent weeks have announced new rich media units for smartphones like the iPhone and Android-based devices as well as the iPad. --Mark Walsh