Cheetah Mobile, a Beijing-based mobile Internet company providing mission critical applications to improve the mobile internet experience for users, announced yesterday that they are acquiring French mobile ad company MobPartner for $58 million.
The deal is an important strategic move for Cheetah Mobile who, according to CEO Sheng Fu, are looking to draw on MobPartner’s expertise, existing network and technology to “build one of the world’s leading mobile advertising platforms.”
MobPartner has build a strong foothold in mobile ad space. Through working on more than 1,500 campaigns in 200 countries and with more than 10,000 publishers worldwide they’ve managed to reach 200 million mobile users worldwide. MobPartner has operating globally for sometime, including in China, which will also be another big plus for Cheetah Mobile as they look to extend and grow their ad network globally.
In speaking about the decision to join the Cheetah Mobile fold, Djamel Agaoua, the CEO of MobPartner underscores how the deal with benefit both companies, noting:
“We also share a common vision on how to maximize mobile advertising return on investment around the world and therefore this deal became a natural evolution and extension of our business. Cheetah Mobile enables us to strategically accelerate our growth by increasing both our traffic and product offerings. In addition, MobPartner enables Cheetah Mobile to accelerate its international expansion strategy.”