Press Releases

Telenav Launches Scout Advertising; Acquires ThinkNear, a Hyper-Local Mobile Advertising Company

10/16/2012

TeleNav, Inc. (NASDAQ: TNAV), the leader in personalized navigation, announced today that it has acquired Local Merchant Services, Inc., d.b.a. ThinkNear, a privately held hyper-local mobile advertising company located in Los Angeles, California, for consideration of $22.5 million, consisting of approximately $18.5 million in cash, plus restricted stock and assumed options.
Telenav will combine ThinkNear’s targeting technology with the existing Telenav Drive-To Advertising solution to create a new mobile local advertising platform called Scout Advertising.