After Acquiring Mobile Ad Network 'Greystripe' for a reported all-cash deal of $70 Million, ValueClick Inc hopes the purchase will help to unlock a bigger proportion of Advertisers' branding budgets, positioning itself to fully capitalise on the continued growth of the mobile marketing space.
In a statement, ValueClick CEO Jim Zarley said:
"“Greystripe accelerates ValueClick's move "up the marketing funnel' with brand advertisers and gives ValueClick Media immediate scale and expertise in the large and fast-growing mobile ad market"
Greystripe is said to be the largest brand-focused mobile advertising network in the US by reach, serving rich-media impressions to touch-driven devices through more than 3,500 mobile web sites and applications across all major mobile platforms. Following the acquisition, ValueClick said that the company will continue to operation as a wholly owned subsidiary.