Why did SingTel pay $321 million to acquire Amobee ?

Could be the telco has major ambitions in mobile advertising.

In a statement, SingTel said the company will serve operators, publishers, advertisers and agencies with leading edge mobile advertising technology and services.

Under the agreement, SingTel will pay about US$321 million for this acquisition.

U.S.-based Amobee is a premium provider of mobile advertising solutions to operators, publishers and advertisers globally.

Founded in 2005, Amobee has been generating strong year-on-year revenue growth.

Headquartered in Silicon Valley, Amobee's management team will remain in active control of the company.

Mr Trevor Healy, Amobee CEO said: "We are delighted to partner SingTel to continue our leadership in mobile advertising. SingTel and Amobee have a shared a vision of the future of mobile marketing and by leveraging each other's strengths, we will be able to advance the industry on a global scale at a faster pace."

The transaction is subject to certain conditions precedent, including satisfaction of applicable regulatory requirements, and is expected to complete before June 2012.

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