MUMBAI: Online marketing company ValueClick Inc. has acquired California-based Greystripe Inc, a leading brand-focused mobile advertising network, for $70 million.
 
Avvording to ValueClick, the purchase will give it immediate scale in the US mobile ad market, expecting it to double to more than $2 billion in another two years. Greystripe‘s advertising platform serves more than 30 million users of touch-based mobile devices.

For the rest of this year, Greystripe is expected to contribute between $24 million to $26 million in revenue and $2 million to $3 million in adjusted earnings before interest, taxes, depreciation and amortization. In the next year, the company anticipates Greystripe to enhance its earnings.
 
The company offers online services including display advertising, affiliate marketing, ad serving and related technologies. Its brands include Commission Junction, ValueClick Media, CouponeMountain.com, Investopedia.com and others.

While Greystripe‘s management team and employees would be retained, the business will be run as a wholly-owned subsidiary, ValueClick Media.