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NewsNAVTEQ Acquires Acuity Mobile Acquisition Expands Existing Location Based Advertising Capabilities09.04.09
The acquisition of Acuity Mobile, a US-based company with approximately 18 employees prior to close, underscores NAVTEQ's commitment to and investment in location-based advertising technology and solutions. Earlier this year, NAVTEQ launched NAVTEQ LocationPoint(TM) Advertising which enables advertisers to reach and engage consumers where and when they are making shopping and purchasing decisions. NAVTEQ has been leveraging Acuity Mobile technologies to meet the increasing demand for location-aware advertising services as the volume of location-aware devices and applications has grown. Acuity Mobile's embedded mobile advertising platform (eMAP) technology enables precise location targeted advertising. The company provides platform-independent, real-time, interactive content which can be targeted based on relevance of offer, recipient preferences, and exact location. The service supports robust campaign management, tracking and reporting as well as APIs for integration into marketing databases providing content, promotions and advertising to virtually any application on any platform "Acuity Mobile has developed unique technical capabilities in geo-targeted messaging that is considered to have higher value since it targets consumers when they are mobile and ready to purchase," said Gregg Smith, Acuity's former CEO. "NAVTEQ has been leveraging our capabilities for some time and, with NAVTEQ's commitment to grow location-based advertising, it made sense for the companies to align more closely." "The acquisition of Acuity Mobile further strengthens our eight plus years in location-based advertising and interactive advertising," explained Chris Rothey, vice president, Advertising, NAVTEQ. "Our research indicates that the more finely we target advertising, the higher value it brings to consumers and advertisers alike. NAVTEQ is committed to providing the leading location-based advertising capabilities and Acuity Mobile technology is an important piece of this." NAVTEQ LocationPoint enables clients to target consumers with geographic precision. In turn, consumers will have advertising move with them, as their mobile mapping applications present ads, offers, coupons, or other promotions, based on their preferences. Advertising capabilities include audio, rich graphics, or calls to action such as routing to the closest advertiser storefront. NAVTEQ made an investment in Acuity Mobile in March 2008. Terms of the acquisition are not disclosed. Redwood Capital Group acted as exclusive financial advisor to Acuity Mobile in connection with the transaction.
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Chicago, IL — NAVTEQ, the leading global provider of digital map, traffic and location data for in-vehicle, portable, wireless and enterprise solutions, has acquired Acuity Mobile. NAVTEQ has worked with Acuity Mobile for several years, leveraging Acuity's leading mobile location-based advertising delivery platform to differentiate NAVTEQ's interactive advertising capabilities. The acquisition is a natural extension of the successful relationship between the two companies.