Mobile advertising company MobPartner acquired by Cheetah Mobile for $58m
Mobile advertising company MobPartner has been purchased by Cheetah Mobile, a Chinese software and marketing company, in a continued effort to build a global advertising platform dedicated to mobile. The acquisition cost Cheetah Mobile $58m, and the French company will become a wholly owned subsidiary, once all the usual regulatory checks are completed.
Sheng Fu, CEO of Cheetah Mobile, said:
“Our mission is to provide the best apps for mobile users globally as well as the best mobile advertising solutions for advertisers and publishers worldwide. Over the past three years, we have delivered the best mission critical apps to mobile users, significantly improving their mobile experiences. Today, more than 340 million people use our apps worldwide on a monthly basis. While we have also made significant progress in building a global mobile advertising platform, we are only getting started.”
MobPartner CEO Djamel Agaoua will continue on in his role at the company, and will also join Cheetah mobile as senior vice president.
Djamel Agaoua commented on the acquisition, saying:
“We’ve long admired Cheetah Mobile as a trusted global partner. 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.”
Cheetah Mobile is best known for its mobile apps including Battery Doctor and Clean Master, which often come pre-installed on smartphones produced by Chinese brands, plus it operates mobile browsers, game centers, and in-app application stores. A total of 65% of its users are based outside of China. MobPartner has more than 200 million mobile users around the world, and operates in excess of 1,500 mobile ad campaigns, with more than 10,000 publishers.