Mobile is creating huge opportunities for publishers, but building mobile applications isn’t the forte of most publishing organizations.
So a growing number of companies are turning to M&A to acquire the skills they need to make progress with mobile initiatives.
The latest example of this: today, Thomson Reuters announced the acquisition of London-based Apsmart for an undisclosed amount.
Founded in 2009, Apsmart was founded by venture capital firm DN Capital and the creator of the original Shazam iPhone application, Rahul Powar. The company’s focus: building “connected, data-driven applications for iOS and Android devices.”
Thomson Reuters is no stranger to mobile and has a number of product offerings with mobile components, but the company obviously felt a greater need for expertise in this area. According to the company’s press release:
The acquisition of Apsmart will enhance Thomson Reuters mobile product creation, design and development, allowing the company to deliver even more expert-enriched content, news and solutions through the interfaces that professionals want on the mobile devices they use.
As TheNextWeb’s Robin Wauters notes, the Financial Times acquired an app developer, Assanka, earlier this year, suggesting that we may be seeing more acquisitions like this in the future.
While mobile is a huge market and the most successful of app developers can afford to remain independent, the reality is that competition is fierce and for many upstarts, being acquired and working for a large publisher with a huge customer base is a very decent outcome.