SingTel Spends Another $400 Million on Ad Tech, Buys Kontera and Adconion
Singapore Telecommunications, Singapore’s biggest mobile player, is making more moves into advertising: The telco is spending around $400 million to buy ad tech companies Kontera and Adconion, according to people familiar with the deals.
SingTel will spend around $150 million on San Francisco-based Kontera, which helps advertisers track and place content on social networks, and $235 million for ad platform Adconion’s U.S. assets, but not its European operations. The Adconion deal includes another $20 million in potential incentive payouts, sources say.
The Wall Street Journal had previously reported on SingTel’s interest in Kontera.
In 2012, SingTel bought mobile ad company Amobee for a reported $321 million; last year it bought Gradient X, another mobile ad tech startup.