Offering basic mobile service is obviously not enough for SingTel, Southeast Asia’s largest telecom by revenue. The company announced plans to acquire mobile advertising company Amobee (which we covered for few times in the past) for $321 million, with the completion expected by June. Under the deal, Amobee’s management will stay in place, SingTel said in a statement.
According to SingTel’s chief executive of Singapore operations Allen Lew, the carrier is very serious about “becoming a major player in this mobile marketing ecosystem.” He added that the acquisition of Amobee is an “important first step” as it sets the company up to “capture the huge opportunity in mobile marketing.”
Additionally, SingTel also announced that it will reorganize itself into groups focusing on consumers, digital life and information and communications technology.
Those who haven’t heard about SingTel before should know it owns Australia’s Optus and has large stakes in mobile operators in India, Indonesia, Thailand, Pakistan, the Philippines and Bangladesh, counting some 434 million subscribers worldwide. SingTel’s Q4 2011 profits were $720 million…
[Via: abcnews]