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SingTel Buys Amobee For $321M

[Techtaffy Newsdesk]

Singapore Telecommunications Limited (SingTel) has signed an agreement to acquire U.S.-based Amobee, a provider of mobile advertising solutions to operators, publishers and advertisers globally. SingTel will pay about $321 million for this acquisition.

Amobee’s management team will remain in active control of the company.

Trevor Healy (CEO, Amobee): SingTel and Amobee have a shared a vision of the future of mobile marketing and by leveraging each other’s strengths, we will be able to advance the industry on a global scale at a faster pace.

The transaction is subject to certain conditions precedent, including satisfaction of applicable regulatory requirements, and is expected to complete before June 2012.

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