By Poornima Gupta
(Reuters) - Singapore Telecommunications Ltd <STEL.SI>, Southeast Asia's largest telecoms company, has acquired a Silicon Valley startup in the mobile advertising sector, its second such purchase in two months.
SingTel's Amobee unit said on Tuesday it bought AdJitsu, which provides tools to make three-dimensional animated ads in mobile apps for iPhone and iPads. The acquisition of AdJitsu follows SingTel's purchase of mobile advertising firm Amobee in March for $321 million.
Terms of the latest deal were not disclosed.
AdJitsu will be folded into Redwood City, California-based Amobee, according to both companies.
AdJitsu was a unit of Palo Alto, California-based startup Cooliris, which has raised $28 million from big venture capital names such as Kleiner Perkins Caufield & Byers, DAG Ventures and The Westly Group.
Cooliris Chief Executive Soujanya Bhumkar said mobile advertising is seeing a lot of activity with advertising networks and media content providers jostling to gain a foothold.
"The space is hot right now," Bhumkar said. "The numbers are actually insane in terms of both economics and engagement."
In less than a year, AdJitsu has snagged major clients, including carmaker BMW and mobile handset maker Nokia.
Bhumkar said Cooliris sold AdJitsu -- a business-to-business unit -- to focus on its consumer-oriented divisions.
Cooliris started as a service to view photo and video content on the Web in a more visually appealing "3D Wall" but branched out to start AdJitsu and a photo-sharing app called Liveshare.
AdJitsu, which was spun off into a separate unit last December, has been receiving a lot of interest from both advertisers and ad networks, and growing at a rapid pace, Bhumkar said.
(Reporting By Poornima Gupta; editing by Edwin Chan, Jane Merriman and Steve Orlofsky)
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