YP Buys Sense Networks

YP, the local search, media, and advertising firm spun out of AT&T which has significant operations in Glendale, said today that it has acquired venture-backed Sense Networks, a provider of mobile advertising and location-based services. Financial terms of the buy were not disclosed. Sense Networks was venture backed by Intel Capital, Javelin Venture Partners and others. YP said the acquisition is its first since its spinout and funding by private equity firm Cerberus Capital Management.