Xurpass acquires SG-based Art of Click

Technology firm Xurpas Inc. has acquired Singapore-based mobile advertising network Art of Click Pte. Ltd. (AOC).

In a disclosure to the Philippine Stock Exchange on Thursday, Xurpas said it has purchased 100 percent of AOC for $45 million.

The technology firm noted that the sale was completed on October 6.

“We are thrilled to find innovative companies exceedingly complementary with our business. We believe that Art of Click is a perfect match for our mobile consumer services, and that growth prospect excites us,” said Xurpas Chairman and CEO Nix Nolledo.

Xurpas said it considers AOC's business an opportunity to grow its mobile consumer services by increasing its content offering.

The technology firm took note that the Singapore-based advertising company it acquired has developed a platform that allow mobile advertisers determine the effectiveness of their advertisements and has approximately 100 clients across 13 countries.

“Our main growth driver is largely mobile consumer services. Since our IPO (initial public offering), we have strategically invested in companies that will boost our content offering for the mobile subscriber," said Xurpas President and COO Raymond Racaza.

On August 23, Xurpas bought the remaining 35 percent equity in mobile and internet systems design company Fluxion Inc. In 2005, it acquired a 65-percent controlling stake in Fluxion.

"We love the fact that Art of Click has the capability to tremendously enhance this core business unit. Right now, we are developing revolutionary mobile consumer platforms that integrates our various investments,” Racaza said. — BAP, GMA News