PubMatic is one of many ad tech companies that are racing to scale their mobile offerings. AppNexus teamed up with mobile ad network Millennial Media last year to build a mobile ad exchange, MMX. Yahoo partnered with Mocean Mobile on a mobile marketplace in February and retargeting firm Criteo has rolled out targeting solutions for the mobile Web and native apps.
PubMatic will continue to work with Mocean Mobile's clients, which include mobile ad networks, app stores and nearly 50 publishers, the company said.
While Ad Age tagged the acquisition cost at $15.5 million, Mocean Mobile co-founder and Chairman Miles Spencer said that price was incorrect.
“I’m not sure who their source was but the person who was supposedly familiar with the transaction was not very familiar with it,” Spencer said. Spencer declined to comment further on the actual amount of the deal.