Mobvista, the Chinese advertising company has acquired NativeX, another advertising startup working specifically on mobile platform. The acquisition is against all cash, which is estimated to be around 160 Million RMB ($24.5 Million).
NativeX is a veteran company founded in 2000 by Robert Weber and Ryan Weber. According to the founders, it has been a profitable company for over 12 years now and currently it serves over a billion users on over 1000 publishing networks. At the same time, Mobvista claims to be one of the largest advertising companies across the globe with over 10 billion daily impressions covering over 2 billion devices.
NativeX is based in Sartell, Minnesota. After the acquisition, the company will be at the same place, however, it will be re-branded ad a subsidiary of Mobvista. Robert Weber will continue to lead the company as CEO and he will take an additional VP role at Mobvista group.
Talking on the development, Wei Duan, CEO – Mobvista said that the acquisition was to strengthen the global expansion of the company. NativeX has been working phenomenally well in the mobile segment and it will be an added advantage for the company to deliver better service as well as target the customers in western markets.