The 15-year-old mobile advertising company NativeX has been sold to Mobvista, one of China’s mobile advertising networks, for $25 million. NativeX will continue to be based in Sartell (USA) and led by CEO Robert Weber, who co-founded the company with his brother, Ryan. NativeX has been profitable for 12 years and has 50 employees in the USA and Finland, officials said.
“We look forward to a successful future as part of the Mobvista family and are exceptionally pleased with the many benefits this acquisition will bring to both our publisher and advertising partners as well as to our employees,” Rob Weber said in a prepared statement.
The business of NativeX started out distributing applications like screen savers to consumers. It now makes technology businesses use to advertise within mobile apps such as games. Through acquisitions and partnerships with app developers, NativeX has gained 1 billion mobile users across 178 countries.
Mobvista launched in 2013. It has more than 340 employees and raised $32 million in venture capital last year to expand overseas. Mobvista specializes in “global mobile advertising and overseas game publishing” and has users in 240 countries, officials said.
Mobvista founder and CEO Wei Duan said that customers will benefit from the merger. “Publishers and advertisers can expect to have the combination of the highest growth categories in mobile marketing including native advertising, video and other innovative ad formats — all with strong data driven technologies,” he said.