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Velti Plans To Buy Remaining Equity Ownership Of CASEE - Quick Facts

Velti Plc. (VELT) Thursday said it plans to buy the remaining equity ownership of CASEE, a mobile ad exchange and mobile ad network in China. CASEE was founded in 2006 by CEO Xin Ye, who was the founding CTO of Sohu.com (SOHU: Quote), China's leading web portal, and Censoft, Microsoft's first joint venture in China.

"The acquisition also positions us optimally to capitalize on the rapidly expanding mobile marketing and advertising market in China, where there are now more than 850 million mobile subscribers." said Alex Moukas, CEO of Velti.

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by RTT Staff Writer

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