<p>Phunware, a company that specializes in enterprise branded mobile application infrastructure and experiences, just announced that it has acquired mobile ad company TapIt Media Group (not to be confused with the Australian NFC marketing company TapIt). The total purchase price was $23 million and the acquisition closed just before the end of the year on December 28.</p><p>All of TapIt's employees, who work in the company's offices in Irvine, California and Rockville, Maryland, will join Phunware and the company will continue to run TapIt's ad products under the "TapIt by Phunware" label. When I talked to TapIt earlier this year, the company, which was bootstrapped with a $350,000 seed investment by its CEO Giancarlo Maniaci in 2010, had just launched a number of new mobile ad products and was already profitable and handling about 6 billion ad impressions per month.</p><p>TapIt specializes in offering self-service media buying, real-time bidding, cross-platform ad creation, publisher mediation and yield optimization to its network of about 30,000 active publishers.</p><p>"We are honored to become part of the Phunware family, as our combined mobile platform offerings will add operational value, insight and control to both advertisers and publishers alike," said Giancarlo Maniaci, Co-Founder and CEO of TapIt Media Group. "With the velocity of adoption and maturation of mobile increasing daily, we strongly believe that fully integrated, easy to use, simple to deploy and all-inclusive mobile platforms like Phunware's MaaS will soon define both 'best of breed' and the new global mobile standard."</p><p><a href="http://techcrunch.com/2013/01/02/phunware-acquires-mobile-advertising-company-tapit-media-group-for-23m/">Keep reading...</a></p><p>Read also:</p><p><a href="http://www.texastechpulse.com/phunware_buys_tapit_media_group/s-0046989.html">Phunware Buys TapIt Media Group</a> (Texas Tech Pulse)</p><p>Explore: <a href="http://news.google.com/news/more?ncl=dNDeHlbEcAkYAeMgK9Y-wmwa5a68M&ned=us">7 additional articles.</a></p>