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Yahoo Japan acquires location-based mobile ad firm

Japan: Yahoo Japan has acquired location-based mobile ad firm Cirius Technologies. Cirius is based in Tokyo and operates AdLocal, a service that targets consumers with ads. It takes into account the physical location of the users via GPS, cell phone identification, map coordinates and other data.

Cirius has about 38 employees. After the acquisition, Cirius will close its US office in Sunnyvale, California. Terms of the deal were not disclosed.

Gen Miyazawa founded Cirius in 2004. AdLocal allows brands and agencies to run location-based mobile ads and sponsorships. AdLocal had raised USD 9 million in three rounds of funding from SoftBank, Jafco Ventures and Edge Capital. The company has served more than seven billion ads for premium brands such as Subway, Denny’s Nissan and Nike. Rivals include 1020 Placecast, Navteq, and others.

Source: VentureBeat