Mobile Advertising Solution acquires 24 Solutions
The mobile application company Mobile Advertising Solution (MAS) is acquiring all shares in the data storage company 24 Solutions as part of the company’s global growth strategy. The merger will provide synergies and create growth in both companies.
MAS is an active player on the international stage of mobile advertising with solutions for ad funded services, content and applications. In Sweden, the company operates under the Metro Play trademark as an exclusive partnership with the Metro newspaper. 24 Solutions is a supplier-independent specialist company that provides solutions and services within information availability and data storage. Its customers include several commercial banks. One of the reasons for the acquisition of 24 Solutions is that MAS is expanding rapidly in Europe, Asia and the Pacific region, and it needs to build up a support and operating arm for the company and its business partners in the area. “MAS is in a powerful international expansion phase and we are rapidly extending our service portfolio. Besides supplying games we nowadays also offer several other mobile applications and media solutions. The merger with 24 Solutions will enable us to manage our own operations in a secure and efficient manner. If we are to continue expanding into Europe, Asia and the Pacific region, we need to be able to deliver these services ourselves. The deal with 24 Solutions does not involve a change of course for either company, and we will continue on the course we have set and hope to grow side by side,” says Fredrik Palmaeus, CEO of Mobile Advertising Solution. MAS is acquiring 24 Solutions from the founders and active officials of the company, Richard Järås, CEO, and Joakim Öhman, technical manager. After the merger, both will continue within 24 Solutions with identical positions. “Our operations will continue as normal, the only difference being that we now have yet another customer, who will also be our owner. 24 Solutions has been profitable since it was established in 2001. The merger with MAS involves a further intensification of our growth plans. Thanks to its new internationally active owner, 24 Solutions will be able to grow faster than before,” says Richard Järås, CEO of 24 Solutions. Besides paving the way for 24 Solutions to establish operations in Asia, the merger will create a number of synergies for both companies. For example, within the development of the much talked about cloud computing, which gives companies and consumers web-based access to programs and systems, something that will largely replace the traditional model, where the system is owned and operated at local level. “Today, 24 Solutions is investing resources in expanding within the area of web-based technology. We believe collaboration with MAS will present opportunities to be a unique mobile supplier within cloud computing,” says Richard Järås.