InMarket Acquires Thinknear In Boost To In-Car Advertising

In-car advertising is getting a big push.

Location marketing pioneer InMarket is acquiring Thinknear, the location-based service firm owned by Telenav.

The Thinknear team and intellectual property will join InMarket in exchange for a minority equity stake in InMarket going to Telenav. The transaction is expected to result in about doubling the headcount and revenue of InMarket.

InMarket’s technology allows the targeting of consumers via mobile apps, such as when a shopper is near a specific product in a store.

Telenav is noted for its connected car and location-based services. After the transaction closes, Telenav says it plans to work with InMarket to offer unique in-car advertising to consumers via car manufacturers.

“The advent of millions of connected vehicles, as well as the future of autonomous vehicles, will create many exciting new media opportunities, both for us and for our partner brands,” said Todd Dipaola, CEO and founder of InMarket.

The location tracking capabilities of the combined company are expected to range from in-store targeting to creating location-based media opportunities in increasingly connected cars.

“This move leverages the expertise of both businesses and offers connected-car drivers a superior in-car advertising experience,” stated HP Jin, chairman and CEO of Telenav.

“The combined business will continue to focus on the location-based mobile advertising sector as well as developing new location-based advertising in connected-cars.”

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