InMobi confirms MMTG Labs acquisition

Mobile advertising network InMobi has confirmed it has acquired MMTG Labs, the company behind AppBistro and AppGalleries.

First reported last week by TechCrunch, AppBistro is an directory and marketplace for Facebook pages apps. AppGalleries is a white-label app store and app distribution platform that allows mobile website owners to create their own branded app stores, and show ads on their sites for relevant mobile apps.

According to a company representative, the reason for the acquisition was “to improve the mobile user experience by making app discovery easier. Our goal is to make this product available for our publishers by enabling them to easily create branded app store experiences to their user base.”

InMobi has confirmed neither service will be shut down, and TechCrunch reports all five members of the MMTG Labs team will join InMobi.

InMobi did not disclose how much it had paid for MMTG labs. Previous to the acquisition MMTG Labs had raised $500,000 in seed funding from Sand Hill Angels, Alfred Lin, 500 Startups and others.

InMobi meanwhile has secured more than $216 million in funding, most of which came from a monster $200 million Series C round raised from Japan’s Softbank. Previous to the MMTG Labs deal, InMobi had acquired HTML5-based ad platform provider Sprout, also for an undisclosed amount.