Mobile internet firm Cheetah Mobile has acquired mobile ad company MobPartner for approximately $58m (£39m), with the aim of creating a leading global mobile ad platform.
Cheetah Mobile focuses on creating applications to make the internet and mobile faster, simpler and safer for users worldwide, with more than 340m people currently using its apps on a monthly basis.
The company is the second largest internet security provider in China, and publisher of Clean Master, the number one mobile app in the Google Play Tools category as of September 2014.
"Our mission is to provide the best apps for mobile users globally as well as the best mobile advertising solutions for advertisers and publishers worldwide," said Sheng Fu, CEO of Cheetah Mobile. "Over the past three years, we have delivered the best mission critical apps to mobile users, significantly improving their mobile experiences.
"The acquisition of MobPartner will further enhance Cheetah Mobile's expertise in mobile advertising and together we will be building one of the world's leading mobile advertising platforms."
MobPartner currently offers innovative performance-based mobile marketing products for advertisers and monetisation solutions for publishers, working with over 1,500 campaigns in 200 countries, and 10,000 publishers worldwide.
"We are impressed by MobPartner's entrepreneurial spirit and passion, and are excited to be working with them to build the best global mobile advertising platform," said Sheng Fu. "We believe this partnership will create enhanced value for our users, advertisers and publishers, and accelerate our global mobile monetisation efforts."
MobPartner will remain autonomous, although may undergo some rebranding as part of the acquisition, and will combine and optimise resources with Cheetah Mobile, with the two firms complimenting each others' expertise.
[caption id="attachment_48198" align="alignright" width="300"] Djamel Agaoua, CEO of MobPartner[/caption]
"It was so obvious we had something to do together," said Djamel Agaoua, CEO of MobPartner, who will retain his role and become senior vice president of Cheetah Mobile. "It was a perfect match in terms of technology and a perfect match in terms of synergy.
"Cheetah have done great work in establishing an ad network, but they needed new kind of technologies, new kinds of competencies. What we bring is our 70-strong team in four countries, our technology base and our ability to extend the monetisation of the platform."
"We also share a common vision on how to maximise mobile advertising return on investment around the world, and therefore this deal became a natural evolution and extension of our business. Cheetah mobile enables us to strategically accelerate our growth by increasing both our traffic and product offerings. In addition, MobParther enables Cheetah Mobile to accelerate its international expansion strategy."