North American local search, media and advertising company, YP, has bought New York-based business, Sense Networks.

Sense, which was founded by computer scientists from MIT and Columbia, uses mobile location and behavioural targeting data to connect brands with relevant mobile users, through mobile ads.

Its retargeting solution for retailers can identify and reach shoppers and prospects of the top retailers with relevant mobile ads when they are near the retailer, such as at home or work.

YP, which consits of flagship consumer brands such as the, the YP app and The Real Yellow Pages directory, has acquired the business, assets and all employees of Sense Networks.

CEO of YP, David Krantz, said YP generates more than $1 billion in digital ad revenue each year, with more than a third of that from mobile.

“With Sense’s technology, YP will be better positioned to improve and grow our mobile advertising leadership through enhanced targeting to consumers,” Krantz said.

“We expect to continue to make technology acquisitions and plan to aggressively maintain and build on our mobile advertising leadership.”

Formerly AT&T Interactive and AT&T Advertising Solutions, YP launched in May 2012, bringing the two companies together. Cerberus Capital Management, one of the world’s leading private investment firms, acquired a controlling interest in YP from AT&T in 2012.