Mobvista, Asia’s largest mobile ad network, has agreed to acquire US-based NativeX for 160 million yuan (24.5 million USD), the companies said on Tuesday.
“Acquiring NativeX is another key step in realizing our global ad-tech vision to develop a multi-dimensional global ecosystem of mobile traffic,” said Mobvista CEO Wei Duan. The company claims to receive 10 billion daily impressions across 240 countries.
Minnesota-based NativeX was founded in 2000 by twin brothers Robert and Ryan Weber, and produces advertising for mobile games and apps. The company claims to have over a billion users across 178 countries, with 12 consecutive years of profitability. NativeX, now a subsidiary of Mobvista, will grow their team as part of the acquisition, maintaining their current leadership structure. CEO Rob Weber will also become a Vice President at Mobvista.
A Mobvista spokesperson told Technode that globalization is a top priority for the company in 2016. The Guangzhou-based company follows in the footsteps of several large Chinese tech powerhouses looking to expand globally in 2016. As the local market saturates amid a slowing economy and China’s tech companies begin to mature, finding new markets has become a priority for big names as well as smaller players looking to expand early and stave off competition.
Mobvista, founded in March 2013, secured their 12 million USD A series led by NetEase, followed by a 200 million yuan series B from Shanghai Media Group, Golden Eagle Broadcasting System, Haitong Securities and China Securities in mid-2015. Mobvista listed on the National Equities Exchange and Quotations (NEEQ), China’s over-the-counter equities exchange, in November 2015. At the time the company said the move was designed to fund their global expansion.