InternetQ acquires UpMobile, its second Latin American acquisition in 2014
What: The mobile marketing and digital solutions InternetQ is acquiring UPmobile, a Mexican mobile marketing, television and radio content provider for an undisclosed sum.
Why it matters: With this acquisition, InternetQ’s second in Latin America, the company will increase its’ presence in the region.
InternetQ, a provider of mobile marketing and digital solutions for mobile network operators and brands,has reached an agreement to acquire Mexican mobile marketing, television and radio content provider UpMobile.
This acquisition strengthens InternetQ's presence in Latin America as it had already acquired Interacel Holdings LLCin January. It will give InternetQ opportunities to further distribute its performance-based advertising and streaming music services.
UpMobile provides interactive solutions for radio stations, as well as mobile solutions to media organizations and the public sector in Mexico, a market of over 100 million mobile connections and 33 million smart phone users currently. An eMarketer research shows the number of smart phone users will most likely increase by 18-20% per year by 2017.
"We are delighted to announce the acquisition of UpMobile, which accelerates our ability to deployInternetQ's services in the evolving Mexican market and further strengthens our growth in Latin America,” said Panagiotis Dimitropoulos, chief executive officer and founder of InternetQ.
No financial details of the acquisition were provided.