China's Cheetah Mobile has acquired the entire stake in the global mobile marketing company MobPartner for USD58 million.
The payment will be reportedly realized in cash and stock.
Fu Sheng, chief executive officer of Cheetah Mobile, said that by integrating Cheetah Mobile's large and increasing mobile traffic with MobPartner's global advertiser resources, leading mobile advertising technologies and rich overseas mobile advertising experience, they will provide better mobile advertising services to customers and partners around the world. They are looking forward to creating higher value for global users, advertisers, and distributors, so as to further accelerate their liquidity at the mobile end.
Djamel Agaoua, chief executive officer of MobPartner, said that Cheetah Mobile is a trustworthy partner. MobPartner and Cheetah Mobile share a common vision about maximizing mobile advertising return. The cooperation of the two parties is a natural process. With the cooperation, Cheetah Mobile will help the fast growth and traffic increase of MobPartner while enriching its products and services; in return, MobPartner will promote the overseas distribution of Cheetah Mobile.
On the completion of the transaction, MobPartner will become a subsidiary of Cheetah Mobile. Agaoua will stay on to be CEO of MobPartner and will take on the additional role of senior vice president of Cheetah Mobile.
According to public files, MobPartner is specialized in performance-based advertising and other mobile marketing services. Its businesses cover 200 countries and regions, severing over 500 advertisers. It reaches more than 200 million mobile users each month with over 18 billion impressions.