Nokia, the world's top cellphone manufacture, announced that it has agreed to buy privately held U.S. mobile advertising firm Enpocket, but did not disclose financial details.
Boston, Massachusetts-based Enpocket has 120 employees. "Effective interactive advertising on the mobile device can create tremendous value for the mobile industry while bringing new Internet services to people around the world," Mike Baker, Enpocket's president said in a statement. The deal is expected to be sealed in the fourth quarter of 2007.
Mobile phones are viewed as one of the largest potential new growth areas for advertising, but this market has been slow to take off as wireless carriers are just starting to build their ad strategies. However, media and Internet companies are pinning hopes for future growth on advertising-supported entertainment on cell phones, devices that users always carry with them.
Since 2001, Enpocket has been developing industry-leading technology platforms for delivering rich and relevant mobile advertising. Enpocket is considered the foremost source for brands and ad agencies who want to reach a wide mobile audience with compelling mobile programs.