Mobile marketing companies iLoop and Lenco are merging, according to a release issued today. Under the terms of the agreement, iLoop will become a subsidiary of Lenco, with iLoop’s shareholders receiving a combination of cash and stock valued at approximately $42 million.

According to the companies, Lenco’s international operations and rich media platforms are complimentary to iLoop’s strength in the United States. Together, the combined company will have operations on five continents.

Lenco’s technologu provides advertisers and wireless carriers the means to deliver large, high volume, rich-media campaigns with highly personalized content, optimized for each different device. Similarly, iLoop’s mFinity platform makes it fast and easy for brands, marketing agencies, content owners and other companies, such as Lexus and Coca Cola, to create websites, ad campaigns and more.