Microsoft, the US software giant, bought Screen Tonic, a French mobile advertising company, from Europe’s largest quoted private equity manager 3i. Financial details for the transaction have not been revealed.
3i, along with I-Source Gestion, a French venture capital firm, invested in a €5.5 million expansion round by Screen Tonic in 2006.
François-René Letourneur, a partner at I-Source Gestion, said that Screen Tonic occupies a strong position in this highly competitive market. It developed and initiated a proprietary platform for delivering adverts to the mobile phone called STAMP.
Letourneur said the investment from 3i and I-Source Gestion had helped to develop Screen Tonic internationally and this had now been completed with the sale to Microsoft.
As well as on mobiles, Screen Tonic advertising technology will be used in PCs and in Microsoft devices such as the Xbox.