Friday, January 16, 2015
The Mobile Majority Acquires Brazilian Company
Santa Monica-based The Mobile Majority--which recently zoomed past $50M in revenues--has acquired a Brazilian web development company called Elastic, according to the company. The Mobile Majority said the deal is valued between $3 million to $7 million. Elastic specializes in high frequency, low latency algorithms used for interpreting data from mobile advertising campaigns, according to the companies. The Mobile Majority said it is adding talent in product development, UI, backend, high speed API integration, operations, and machine learning. Elastic was founded by Marcelo Wiermann, who will continue to lead Elastic in Sao Paulo. In addition to th e acquisition, The Mobile Majority also said it has expanded to three new cities, including Columbus, Ohio; Detroit; and Chicago, and now has 44 employees, with plans to double that by mid 2016. The Mobile Majority is led by Rob Emrich.