Posted by: Olga Kharif on July 2, 2009
According to a new report from investment banker JEGI, mobile media and technology sector had seen a 46% increase in mergers and acquisitions in the second quarter of 2009. In the first half of the year, the mobile industry had struck 16 deals valued at a total of $146 million. That’s up from 11 deals valued at $107 million in the first half of 2008. Impressive.
What is going on? Clearly, activity in this sector has nothing to do with distress. Use of mobile content and applications is exploding. And companies large and small are in a land grab mode, acquiring small and promising start-ups in hopes of increasing their mobile presence. IAC and Amazon made investments in iPhone applications recently. Amazon also acquired mobile app maker SnapTell and mobile payments player Boku. “Mobile social networking and mobile content are other key areas of investment,” according to the report. Yes, times are good if you are a mobile entrepreneur.