Partnership with former Pinsight parent company, Sprint, will create a U.S. advertising powerhouse
SAN FRANCISCO, Oct. 17, 2018 /PRNewswire/ -- InMobi, a global provider of enterprise platforms for marketers, today announced the acquisition of Pinsight Media, the mobile data and advertising company formerly wholly owned by Sprint. This all-stock deal is part of a broader strategic partnership between InMobi and Sprint across devices, data, media and marketing.
Pinsight Media is a mobile data and brand intelligence company that works with leading U.S. telcos and advertisers across verticals including consumer goods, retail, entertainment and finance. It offers a comprehensive suite of advertising products and services that help businesses uncover new audiences, discover new market opportunities and define more effective customer engagement strategies.
Consumers have very high expectations of how brands engage with them from discovery to purchase and consumption. The acquisition of Pinsight builds on InMobi's enterprise platforms and enables CMOs to deliver on consumer expectations through improved customer understanding for superior targeting, engagement and retention. By combining network-level mobile data with data from mobile applications and mobile web browsers, InMobi, through the acquisition of PinSight Media, will provide CMOs an integrated end-to-end view of consumers, surpassing other platforms in the industry.
"Sprint's partnership with InMobi goes beyond this acquisition. We have been looking for a strategic partner that can deliver the latest digital marketing and mobile advertising technologies, besides having a deep appreciation of regulatory, privacy, and data concerns," said Rob Roy, Chief Digital Officer at Sprint. "This partnership provides Sprint with an innovative partner for driving our marketing success."
The Pinsight Media acquisition also brings deep insights and a cutting-edge data management platform to the InMobi Marketing Cloud, providing enterprise marketers with a bridge between user behavior and an AI-powered marketing strategy.
"With this acquisition we are creating the most powerful advertising and marketing platform for the U.S. market by unifying online and offline behavior, and providing CMOs with a way to reach and engage consumers, while remaining compliant with privacy and data protection requirements," said Naveen Tewari, Founder and CEO at InMobi. "This industry-first acquisition allows InMobi and Sprint to work on our respective strengths together, and provides a global template for partnerships between advertising platforms and telcos."
"InMobi is deeply committed to telco partners and building a unique data ecosystem to support our enterprise platform for marketers," said Anurakt Jain, VP and GM, Strategic Data Partnerships at InMobi. "The acquisition of Pinsight Media significantly enhances our ability to deliver intelligent consumer insights, audiences and customer engagement for CMOs."
As a result of this acquisition, InMobi will expand its operations in North America to Kansas City, alongside San Francisco, New York, Los Angeles and Chicago. This move follows InMobi's acquisition of AerServ for $90 million earlier this year in January, and its recent partnership with Microsoft in June.
InMobi is a global provider of enterprise platforms for marketers. As a leading technology company, InMobi has been recognized as a 2018 CNBC Disruptor 50 company and as one of Fast Company's 2018 Most Innovative Companies. For more information, visit inmobi.com.
About Pinsight Media
Pinsight Media is a mobile data and brand intelligence company. Leveraging verified, first-party mobile data from more than 32 million mobile users straight off the network, Pinsight Media works together with businesses and marketers to provide actionable insights that support smarter business and marketing decisions. This includes analyzing key demographic, behavioral and location-based information that can help businesses uncover new audiences, discover new market opportunities or define more effective customer engagement strategies.