Mobile services platform provider Digital Turbine acquires competitor Xyo
According to a report published by TechCrunch writer Mike Butcher on Thursday, mobile services platform provider Mandalay Digital Group has acquired Xyo for an undisclosed amount.
In his report, Butcher states that Xyo has "pushed the boundaries on what has been possible in the last few years in contextual advertising for mobile apps," and explains that this technology acquisition has resulted in two competitors joining forces.
Mandalay's subsidiary Digital Turbine, which provides the corporation's mobile content-monetizing offerings, will absorb Xyo co-founders Marcin Rudolf and Zoe Adamovicz. The third co-founder, Matthaus Krzykowski, will be parting ways with Rudolf and Adamovicz to pursue other opportunities, Butcher reports.
Digital Turbine provides music streaming and downloading, eBook purchasing and gaming subscription platforms for mobile providers. The corporation works with big-name clients like T-Mobile USA and is currently developing a deal with Verizon.
In a press release published Thursday, Adamovicz stated that "as part of Digital Turbine, Xyo's revolutionary app discovery technology will reach consumers at scale much more quickly." She also expressed optimism that the corporate union would lead to innovation — specifically, the development of technologies "that can help shape this consumer world."
Digital Turbine's CEO agrees. In the aforementioned press release, he stated that the two companies share a common vision — that of enabling consumers to find "the right app at the right time" without the hassle of navigating seemingly endless search results.
As evidenced by this merger, a corporation that chooses to acquire a successful competitor can benefit companies on both sides, with the acquirer gaining fresh perspectives and additional clients, and the acquired company increasing the reach of its innovate technology.