In an announcement, Adknowledge has acquired Montipay Inc under its name SocialWeekend Labs. The company operates a portfolio of apps from Facebook and other mobile platforms.
SocialWeekend Labs is enticing for its technological bases, helping developers add features to their Facebook and mobile marketing applications. It also boasts as one of the most experienced developers and personnel in the social media world today, as many of its team members helped build the largest social applications and networks in the market today, namely Hi5.
According to Ryan Stephens, General Manager for Adknowledge's Apps unit, "SocialWeekend has a first-class of team of engineers with proven user expertise. They can help us take our already robust marketing suite for app developers to an entirely new level."
The goal of the acquisition is to integrate SocialWeekend Labs app promotion technolotoes with Adknowledge's capabilities regarding ad monetization and capturing paid users to the site. This synergy would create a tool applications set that can grow market visibility and generated revenue in the long run.
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