The BDO Birmingham transaction services team recently advised Nasdaq listed Velti Inc. the mobile marketing and advertising technology provider, on their acquisition of UK based mobile marketing company, Mobile Interactive Group, (MIG). The acquisition of MIG expands Velti's position as the world's largest mobile marketing company based on revenue, customers, consumer reach and technology holdings. In 2011 MIG was named the fastest growing privately owned technology firm in Europe and with more than USD 100m in gross billings MIG has established itself as a leading mobile marketing player. The company's global partnership with Skype, its Facebook Preferred Developer Consultant status and the launch of its mobile / broadcast interactive platform have won MIG accolades as a pioneer in bridging social media, mobile marketing and commerce transactions. Initial consideration for the deal was a minimum of USD $25m at completion and depending on MIG's future performance, Velti could pay up to an additional USD $34m by 2013.
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