Verve Mobile acquires Fosbury to expand mobile ad opportunities
Verve Mobile, the mobile marketing platform focussed on location-based advertising, recently announced the acquisition of beacon technology platform Fosbury, for an undisclosed sum. Verve Mobile delivers millions of mobile ad impressions per day, often prompting customers to follow discounts and receive coupons. Through the acquisition of Fosbury, the platform can now target messages by location more rapidly.
Fosbury delivers beacon technology to connect customers to offers
Nada Stirratt, CEO, Verve Mobile, says:
“What Verve does better than anyone else is engage consumers via their devices and drive them into stores. Fosbury further enhances this ability by maintaining that consumer connection for marketers in a more personalized and meaningful way, with the ultimate goal of driving them to the cash registers. That’s incredibly powerful and available to marketers immediately.”
Beacon technology is thriving and being picked up fast by retailers and other businesses to drive targeted offers to customers. Combining 10 beacon hardware systems including Mobiquity, Gimbal and Roximity, Fosbury technology helps Verve Mobile communicate with all these platforms through a unified system. Verve marketers can benefit from the move by being able to target their customers whilst they are in a certain location, e.g. a targeted store.
In addition, Verve Mobile plans to expand its mobile wallet payment functionality on its ads. Tom Kenney, President of Verve Mobile explains:
“Fosbury’s Apple Passbook, Google and Samsung wallet capabilities augment the success and scale of retailers’ marketing and loyalty programs by allowing businesses to advertise their presence to nearby smartphones. The Fosbury acquisition allows Verve to integrate Passbook and Wallet functionality as one of our key secondary actions into all of our mobile advertising campaigns, driving more in-store customer engagement and sales.”
As beacon-triggered messaging is expected to drive $44.4bn in-store retail in the US over the next year, location-based mobile marketing will gain in importance among marketers. Kenney confirmed that the company expects there to be many more beacon acquisitions in the future.