Online marketing services giant ValueClick is acquiring mobile ad network Greystripe for $75 million in cash, according to a
TechCrunch report citing an unnamed source. Greystripe, known for serving rich media ads within mobile
games and apps, has been rumored as a potential acquisition target following Google's purchase of mobile ad network AdMob for $750 million and Apple's $275 million deal for Quattro Wireless.
The move could help ValueClick accelerate its expansion into mobile ad market, expected to become to top $1 billion in the U.S. this year, according to a recent estimate by eMarketer. Greystripe to
date has raised $18.1 million in venture funding and is on track to bring in $25 million to $30 million this year in revenue and $6 million in gross profit, according to TechCrunch.
The
company says its ad network delivers billions of impressions each month to more than 30 million users through 3,500 apps on the iPhone, Android devices and other smartphone platforms. Neither
Greystripe nor ValueClick could be reached for comment Friday evening.