Brand management company BlueFocus Communication Group will acquire two major mobile advertising companies Domob Limited and Madhouse Inc.
The report revealed that BlueFocus will acquire a 100% stake in Domob Limited and a 95% stake in Domob Network Technology for USD289 million; and the company will acquire a 51% stake in Madhouse Inc. for USD61.2 million. At the same time, BlueFocus will invest an additional USD10 million in Madhouse and they will hold a 54.77% stake in the latter on the completion of the investment.
Revenue figures for both companies were not available.
Domob is a Chinese smartphone advertising platform. Headquartered in Beijing, the company has over 300 employees.
Madhouse is headquartered in Shanghai and has over 240 employees. The company focuses on China and India markets. It provides mobile advertising and optimization services to developers in China.
Neither company has announced any post-acquisition layoff plans.