Rubicon Project expands into mobile with Mobsmith acquisition

Highlighting the growing importance of mobile advertising, Rubicon Project today announced that it had acquired the San Fracisco-based mobile ad tech platform Mobsmith.

The Los Angeles-based ad tech company said the new acquisition would combine with its real-time trading platform to give publishers and ad buyers a consolidated marketplace for trades of display and mobile ad inventory.

“Just like the online display market, the mobile ad market needs a complete direct and programmatic ad monetisation platfor,” Frank Addante, CEO & founder of the Rubicon Project, said in a statement. “We see an opportunity to leverage our massive installed base of comScore 500 publishers and largest independent marketplace for ad buyers to take a leadership position in mobile like we have in display advertising.”

According to eMarketer, mobile advertising spending in the U.S. increased 89 percent between 2010 and 2011, to reach $1.45 billion last year. This year, they forecast it will grow another 80 percent to $2.61 billion. With Mobsmith, Rubicon Project is in a better position to capture more of those dollars.

The companies did not disclose financial details, but All Things D reported that Rubicon purchased Mobsmith for $10 million.