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October 11, 2011
According to a press release, the acquisition agreement between Velti and Air2Web was announced on September 22, 2011.
Operating out of United States and India, Air2Web provides mobile customer relationship management (mCRM) solutions to some of the world's most trusted consumer brands.
The acquisition is expected to help Velti (News - Alert) to extend its reach to carriers and verticals such as the financial services industry in the USA. The acquisition will also help Velti to expand its footprint in Indian market, the second largest mobile market by
“The combination of Velti and Air2Web is an important milestone for Velti. It further deepens Velti's U.S. footprint and provides improved access to carriers andverticals such as the financial services industry. In India, Air2Web expands Velti's footprint in the second largest mobile market by subscribers, providing Velti a stronger foundation to continue to service the Indian market,” Chief Executive Officer of velti Alex Moukas noted in a statement.
Madhubanti Rudra is a contributing editor for TMCnet. To read more of her articles, please visit her columnist page.
Edited by Rich Steeves