NativeX, a startup that makes advertising for mobile games and apps, is being acquired by Chinese mobile ad platform Mobvista. In a statement today, the companies said that all-cash deal is valued at 160 million RMB (about $24.5 million).
Based in Sartell, Minnesota, NativeX was founded in 2000 by twin brothers Robert and Ryan Weber. The company says it has been profitable for 12 consecutive years and currently has more than one billion users on 1,000 publishing networks. Mobvista claims to be one of the world’s largest mobile advertising networks with 10 billion daily impressions and a user database that covers two billion devices.
Rob Weber told the St. Cloud Times that it focuses on three kinds of mobile ads: Lightning Play video, or full-screen videos that play between game transitions, multi-offer walls and interstitials.
After the acquisition is finalized, NativeX will remain in Sartell and become a subsidiary of Mobvista. Rob Weber will continue to serve as its chief executive officer, and also take a position as vice president of Mobvista Group.
In a statement, Mobvista founder and CEO Wei Duan said that the deal will make achieving his company’s global expansion plans easier.
“NativeX is a solid, sustainable business and our technology focus and values are perfectly aligned to deliver rich growth opportunities to the mobile market and to further secure Mobvista’s international goals and success, especially to speed up our ability to supply substantial audiences in Western markets,” said Duan.