India-based InMobi acquires Silicon Valley firm Sprout

Bangalore-based InMobi, the world's largest independent mobile ad network, today announced the acquisition of US-based Sprout, the leading platform for creating HTML5 rich media mobile advertising. This acquisition helps InMobi address the complexity of planning, creating, distributing, and measuring of rich media mobile ads for brands and agencies in India and globally.

InMobi's mobile ad network delivers the unprecedented ability to reach 314 million consumers, in over 165 countries, through more than 36.2 billion mobile ad impressions monthly. With the Sprout acquisition, InMobi enables the mobile advertising industry to easily build and distribute engaging rich media ads to consumers everywhere.

Known for simplifying the complex process of HTML5 mobile ad creation, Sprout works with the world's leading brands, including Nokia, Disney, HTC, Chevrolet, Paramount Pictures and Sega to bring interactive mobile ads to devices supporting HTML5, including Apple iOS and Google Android devices. Its cloud-based platform brings efficiency and scale, helping advertisers "build once and deliver everywhere".

Naveen Tewari, CEO of InMobi comments, "This acquisition reflects the growing maturity of the global mobile ad industry. Advertisers and ad agencies are looking to engage consumers through ever more immersive and interactive means ' InMobi has taken the lead to deliver on this critical market requirement through the acquisition of Sprout."

Commenting on the acquisition, Ajit Nazre, Partner at Kleiner Perkins Caufield & Byers says, "The mobile industry is yet to fully capitalize on the engaging advertising experiences now possible through smart devices. This acquisition will help scale the use of rich media advertising globally - a critical next step in helping the industry realize its full potential."

Sprout will operate as a fully independent company working with the entire mobile advertising industry to solve the HTML5 creation and delivery problem, and will continue to expand its product in the coming months by adding workflow enhancements, analytics, and innovative new ad units.

¨Carnet Williams, CEO and co-founder of Sprout adds, "InMobi's commitment to an open and independent Sprout made them the clear choice for us. We will continue to work with all existing partners, including ad networks, globally."