InMobi Acquires MMTG Labs, The Startup Behind AppBistro And AppGalleries

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We’re hearing that mobile ad network InMobi has acquired MMTG Labs, a San Francisco startup that operates AppBistro, an application marketplace for Facebook pages, and AppGalleries, which is a white-label app store platform that is in use by the likes of Brit Media.

The financial terms of the deal aren’t being disclosed, but we’re told that both the founders and investors at MMTG Labs are “very happy.” The entire five-person team, led by co-founders Ryan Merket and Nalin Mittal, are joining InMobi as part of the acquisition.

MMTG first came on the scene back in May 2010 when it launched AppBistro at TechCrunch Disrupt. They  were incubated in i/o Ventures and went on to secure some $550,000 in funding in August 2010. The launch of AppGalleries (then called AppStores) occurred earlier this year, in January.

It was that new platform that most caught the attention of InMobi, people close to the deal tell us — and the AppGalleries technology will likely be adopted by InMobi and added to its suite of products.

InMobi, meanwhile, certainly has the paycheck to pay for acquisitions. The company claims to be the largest independent mobile ad network int he world, and it just raised $200 million in a Series C led by Softbank this past fall. Nearly a year ago, InMobi snapped up HTML5 ad builder Sprout for an undisclosed sum.