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Verve Mobile Acquisition of Startup Fosbury Signals More Beacon Buys to Come

News, USA


Source: Advertising Age

Acquisition Is First Major Initiative of CEO and Former Acxiom Exec Nada Stirratt

Verve Mobile, a firm focused on location-based advertising, acquired beacon-centric campaign management technology Fosbury for an undisclosed sum. It’s a small deal, but Verve Mobile’s move portends an inevitable consolidation within the sprawling beacon space.

Verve delivers hundreds of millions of mobile ad impressions each day, typically messages enticing consumers to click to receive a discount or deal of some kind. The Fosbury buy will help Verve act on location data for message targeting more rapidly and allow that targeting to be based on more granular information. It also gives Verve a tech platform to add mobile wallet payment functionality to their ads.

“We would like to add that to every one of our creative units,” said Tom Kenney, president and founder of Verve Mobile, regarding Verve’s mobile wallet capability. “This enables us to do that.”

Read more in the Advertising Age article.

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