AT&T Inc. (NYSE: T) has acquired Plusmo Inc., a Santa Clara, Calif.-based developer of cross-platform mobile applications. No financial terms were disclosed. Plusmo had raised around $4.4 million in a Series A round led by New Enterprise Associates.
AT&T Inc. (NYSE:T) today announced the acquisition of privately-held Plusmo, Inc., a leading provider of cross-platform mobile application solutions, bringing to AT&T an open standards technology that will simplify mobile application development, accelerate innovation and deliver a better application experience for consumers. Plusmo will become a part of AT&T Interactive, and the Plusmo mobile application development platform is expected to be used by multiple AT&T subsidiaries, including AT&T Mobility. Terms of the deal were not disclosed.
“Plusmo’s technology will help us build upon the success and momentum we’re experiencing in mobile local search, which continues to see strong growth,” said David Krantz, president and CEO, AT&T Interactive. “The addition of Plusmo adds a new dimension to our technology prowess through its multi-platform approach. It highlights our commitment to invest in mobile application innovation and search leadership.”
The addition of Plusmo will give AT&T Interactive a greater ability to accelerate its mobile application development, which includes YPmobile, the popular mobile derivative of its YELLOWPAGES.COM web property. It will also help reduce development time and costs, and allow for over-the-air updates whenever new features are available. AT&T Interactive and other AT&T subsidiaries will also explore using the technology to create other applications and widgets that work on the three platforms that consumers use the most: mobile, the computer and TV.
“With the increasing demand for mobile services and applications, it’s an opportune time for Plusmo to be joining the AT&T family,” said Krishna Vedati, CEO of Plusmo. “Plusmo’s mobile platform capabilities will help contribute to AT&T’s effort to accelerate consumer adoption of mobile applications as well as expand the opportunity for publishers, media brands, service companies and developers to reach a large and coveted audience across a broad range of devices.”
AT&T Inc. (NYSE:T – News) is a premier communications holding company. Its subsidiaries and affiliates – AT&T operating companies – are the providers of AT&T services in the United States and around the world. With a powerful array of network resources that includes the nation’s fastest 3G network, AT&T is a leading provider of wireless, Wi-Fi, high speed Internet and voice services. AT&T offers the best wireless coverage worldwide, offering the most wireless phones that work in the most countries. It also offers advanced TV services under the AT&T U-verseSM and AT&T | DIRECTVSM brands. The company’s suite of IP-based business communications services is one of the most advanced in the world. In domestic markets, AT&T Advertising Solutions and AT&T Interactive organizations are known for their leadership in directory publishing, advertising sales and interactive local search applications. In 2009, AT&T again ranked No. 1 in the telecommunications industry on FORTUNE® magazine’s list of the World’s Most Admired Companies.