Tapit media group, which is a mobile ad company, has recently been acquired by Phunware, a company specializing in enterprise branded mobile application. The company was acquired for a $ 23 million with the acquisition being closed on the 28th of December.
Employees from all over Tapits offices spread at Rockville, California, Maryland and Irvine will now be moving to join Phunware, the company that Tapit has now been acquired by. Having specialized in self service media buying, cross platform ad creation, real time bidding, publisher mediation and yield optimization, Tapit was in fact bootstrapped earlier this year with a seed investment of $3,50,000 from Tapit’s CEO Giancarlo Maniaci, two years back in 2010.
“We are honored to become part of the Phunware family, as our combined mobile platform offerings will add operational value, insight and control to both advertisers and publishers alike,” said Giancarlo Maniaci, Co-Founder and CEO of TapIt Media Group. “With the velocity of adoption and maturation of mobile increasing daily, we strongly believe that fully integrated, easy to use, simple to deploy and all-inclusive mobile platforms like Phunware’s MaaS will soon define both ‘best of breed’ and the new global mobile standard.”, as reported by Techcrunch.com
Phunware on the other hand has been working with various companies, some among them being ESPN, NASCAR, NFL, Discovery. However, its acquisition of Tapit gives the company an access to some of the large customers from Tapit which include Disney, Amazon, Toyota, EA Sports, M&C Saatchi, Rovio and MSNBC.
In fact, Alan S. Knitowski, the CEO of Phunware argues that with this acquisition, his company will now be allowed to “add further breadth and depth to the existing global scale of our core MaaS [mobile-as-a-service] platform product offerings.”
The company can now have its expertise in building applications combined with the monetization expertise from Tapit. Phunware’s “aggressive push for ‘mobile cloud’ leadership globally”, has been noticed from this move. With the recent acquisition it can now also solve “the underlying operational and monetization headaches of those required to reach, engage and delight them.”