In a move to increase its mobile capabilities, Israel’s Matomy Media Group is to acquire Austrian mobile-advertising specialist MobFox for $17.6 million in cash and shares ($10.1 million in cash and $7.5 million respectively).
The move boosts Matomy’s 2014 revenue from mobile-related activity to 20 percent from 7 percent, the company said.
It expects MobFox’s technology to enable it to set a goal of 50 percent of revenue coming from mobile activity in fewer than five years. MobFox’s London office will become Matomy’s UK branch office.
Earlier this month French advertising company Publicis Groupe acquired a 20 percent stake in Matomy.