Sprint invests in Handmark to boost mobile market
Mobile technology is becoming increasingly important in the business world. More companies are integrating smartphones and bring-your-own-device strategies into daily operations, and more customers in general are coming to rely on handheld devices for everyday tasks.
This blog has previously discussed how more technology businesses are taking note, and are working hard to increase the services they offer and create more intricate products. Sprint continued with such M&A activity, and announced yesterday that it will acquire Handmark and its subsidiary OneLouder, a mobile app developer and advertising company. As explained by ZDNet, the move will help Sprint strengthen the mobile advertising services it offers to brands and app developers.
"The business, culture and technology they bring will be a huge asset to our business, and ultimately the customers of Pinsight Media+," Mike Cooley, VP of New Ventures at Sprint, shared with TechCrunch.
Additionally, this technology acquisition should bring a more "entrepreneurial spirit" to its mobile program. Company officials hope that more developers will choose to use Sprint's advertising platform.
Financial terms of the deal have not yet been disclosed, but reports said that Handmark and OneLouder will continue to operate out of Kansas City, where the companies are based. Additionally, CEO Augie Grasis will join an advisory board that Sprint created, ensuring that the transition is as smooth as possible. Grasis will also continue to provide direction to Handmark and OneLouder.
The tech world often sees business opportunities such as this one, where two companies can work together and offer customers a stronger product or service. When given the right devotion and attention, technology mergers and acquisitions will benefit all parties.