Velti has completed the acquisition of CASEE, China’s largest mobile advertising exchange and mobile ad network, with the successful purchase of the remaining 67 per cent equity in CASEE that it did not already own, for approximately $8.4m (£5.4m) in cash.
Velti acquired 33 per cent of CASEE in 2008. The final total consideration could be up to $20.7m, depending on an earn-out clause. CASEE CEO, Xin Ye, will continue to head up the CASEE operation in China. The CASEE acquisition was announced in September 2011, along with Velti’s purchase of Air2Web, which provides mobile CRM (mCRM) solutions in the US and India, for $19m in cash. 
Separately, Velti has announced the retirement from its board of Jerry Goldstein, with immediate effect. Goldstein has served on the Velti Board since 2006.
