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Update: Reports suggest Microsoft close to InMobi acquisition

Update: Reports suggest Microsoft close to InMobi acquisition

Sources at InMobi reveal that the acquisition is a false claim and no further information can be expected at this time.

Earlier, SeekingAlpha reports that Microsoft is near to closing a deal to acquire mobile advertising company InMobi. The report indicates that the number InMobi is requesting is approximately $2 million, but does not confirm that this will be the final price-tag. The same source reveals that Google and Yahoo also showed interest in acquiring InMobi but could not reach a deal.

InMobi is an India-based mobile ad firm founded in 2007 with a global presence in 17 countries including the UAE.

Microsoft is yet to be available for comment.

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