Mobile marketing company Velti today
announced acquiring mobile CRM firm Air2Web for about $19 million in cash. The move is aimed
at expanding Velti's global footprint, especially in India, and building its business among carriers and different industry categories such as financial services. Atlanta-based Air2Web counts
AT&T, Comcast, American Express, HSBC, Barclays Bank and Citigroup among its clients.
Through the merger, Air2Web said its customers would benefit from Velti's full range of mobile
marketing services including media planning and buying, ad serving, development of mobile sites and landing pages, and analytics.
Separately, Velti said it would acquire the remaining
equity of China-based mobile ad exchange Cassee for $8.4 million after taking a stake in the company earlier this year. Other Velti acquisitions in the last two years include Ad Infuse, a
provider of personalize mobile advertising, and mobile ad exchange Mobclix. The company raised $15o million war chest after going public on the Nasdaq market at the beginning of 2011.