• by Mark Walsh  @markfwal, July 18, 2012

Mobile ad network InMobi Wednesday confirmed its acquisition of MMTG Labs, which operates AppBistro, an app marketplace for Facebook brand pages, and AppGalleries, a white-label service for creating branded app stores. Terms of the deal, first reported last week by TechCrunch, were not disclosed.

" MMTG Labs fits nicely in our overall strategy to continue to deliver best of breed technology and services to our developers and publisher partners. We are very excited to welcome the highly talented team from MMTG Labs to the InMobi family,” said InMobi founder and CEO Naveen Tewari, in a statement.

As part of the deal, the five-person MMTG Labs team will relocate to the new InMobi office in San Francisco. InMobi, which has expanded its presence in the U.S. in the last year, says its network now reaches 578 million people in 165 countries, serving billions of ad impressions daily.