Nokia intends to boost its mobile ad business through the acquisition of Enpocket, which provides cell phone marketing technology and services to advertisers, Web publishers, and carriers.
Nokia announced on Monday that it has entered into a definitive agreement to buy Enpocket, whose technology platform and business partnerships Nokia expects will allow it to rev up its products and services in mobile advertising, a market poised for robust growth. The companies did not disclose financial terms of the deal.
After years of great promise and unmet expectations, mobile advertising is expected to boom in coming years, going from a tiny market to a considerable one.
Last week, The Kelsey Group predicted that spending on mobile search and display advertising in the U.S. will hit $33.2 million this year and grow at a compound annual rate of 112 percent through 2012, when it will total $1.4 billion.
Kelsey Group also expects the number of mobile Internet users to grow at a 20 percent compound annual clip in the U.S. through 2012, when there will be almost 92 million people going online via their cell phones.
Worldwide, mobile ad spending is expected to reach $1.5 billion this year and grow to $11.3 billion by 2011, according to market researcher Informa Telecoms & Media.
Nokia, Mobile Phone, Smart Phone, Advertising, Mobile Advertising, Mobile Advetiser, Enpocket, Deal, Acquisition, Corporate News