SAN FRANCISCO, Oct. 4, 2011 (GLOBE NEWSWIRE) -- Velti plc (Nasdaq:VELT), a leading mobile marketing and advertising technology provider for brands, advertising agencies, mobile operators and media, today announced it has completed its acquisition of Air2Web, a provider of mobile customer relationship management (mCRM) solutions in the United States and India for many of the world's most trusted consumer brands. The acquisition agreement between Velti and Air2Web was announced on September 22, 2011.
"The combination of Velti and Air2Web is an important milestone for Velti," said Alex Moukas, Chief Executive Officer. "It further deepens Velti's U.S. footprint and provides improved access to carriers and verticals such as the financial services industry. In India, Air2Web expands Velti's footprint in the second largest mobile market by subscribers, providing Velti a stronger foundation to continue to service the Indian market."
About Velti
Velti is a leading global provider of mobile marketing and advertising technology and solutions that enable brands, advertising agencies, mobile operators and media to implement highly targeted, interactive and measurable campaigns by communicating with and engaging consumers via their mobile devices. The Velti platform, called Velti mGage™, allows customers to use mobile and traditional media to reach targeted consumers, engage the consumer through the mobile Internet and applications, convert them into customers and continue to actively manage the relationship through the mobile channel. Velti is a publicly-held corporation based in Jersey, and trades on the NASDAQ Global Select Market under the symbol VELT. For more information, visit www.velti.com.
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"Safe harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements regarding the closing and the benefits of the acquisition of Air2Web, the synergies brought by such acquisition, the expected growth in mobile advertising and marketing and the opportunities for further growth, globally, both for Velti and in connection with the acquisition, that involve risks and uncertainties concerning Velti's acquisition of Air2Web, anticipated product information, estimates of future results of operations and general business outlook. When used in this press release, the words "anticipates", "estimates", "may", "can", "will", "believes", "expects", "projects", "intends", "likely", similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Velti or Air2Web, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. These risks and uncertainties include - but are not limited to - risks associated with our ability to achieve the benefits and realize the synergies of the acquisition and to expand our customer base as a result, to maintain the employees, customers, suppliers and other strategic relationships of the acquired company, keep pace with technological and market developments and remain competitive against potential new entrants into our markets. Further information on these and other factors that could affect the company's results is included in our annual report on Form 20-F and in our registration statement on Form F-1 filed with the Securities and Exchange Commission and in other filings we may make with the Securities and Exchange Commission from time to time.
Velti assumes no obligation and does not intend to update these forward-looking statements, except as required by law.