NAVTEQ Buys Location Based Advertising Agency

­Digital map supplier, NAVTEQ has announced the acquisition of long term partner, Acuity Mobile, a US-based company with approximately 18 employees that offers location based advertising services. NAVTEQ is itself owned by Nokia.

Acuity Mobile's embedded mobile advertising platform (eMAP) technology enables precise location targeted advertising.

"Acuity Mobile has developed unique technical capabilities in geo-targeted messaging that is considered to have higher value since it targets consumers when they are mobile and ready to purchase," said Gregg Smith, Acuity's former CEO. "NAVTEQ has been leveraging our capabilities for some time and, with NAVTEQ's commitment to grow location-based advertising, it made sense for the companies to align more closely."

NAVTEQ made an investment in Acuity Mobile in March 2008. Terms of the acquisition are not disclosed.

Posted to the site on 15th September 2009