O2 acquires mobile advertising firm Weve from EE and Vodafone

May 5, 2015: The UK's second largest telecommunication service provider Telefonica UK Limited trading as O2 acquires mobile marketing and commerce service provider Weve.

                      

In a joint statement O2, EE and Vodafone said: "Weve has been running mobile marketing and advertising campaigns for almost three years and has been successful in growing revenues and attracting new advertisers.

"The (O2) acquisition follows a strategic review of Weve and as a result Vodafone and EE have now exited from one-third shareholdings. Weve will now trade as a wholly owned subsidiary of O2."

Launched in 2013, Weve has been operating as joint venture between O2, EE and Vodafone in a bid to crack mobile advertising market. The company claims to develop a 23 million consent-based customer reach till this date.

The financial details of the deal is not revealed officially yet, but this move by O2 keeps them in strong position to capitalise on a growing mobile advertising market. 

Source: MediaWeek.co.uk

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