Arbitron Inc., announced yesterday that it has acquired Zokem Oy, a Finland based mobile audience measurement and analytics company, for a payment of approximately $11.7 million in cash at closing with possible additional incremental cash payments through 2014 of up to $12 million based on future financial performance.
The Espoo based company was founded in 2008. Zokem provides mobile research panels, plug-and-play mobile media measurement tools and software building blocks for mobile device tracking to leading companies in all kinds of industries.
Zokem will operate as Arbitron Mobile, a new division of Arbitron Inc. (which is based in Columbia, USA). The division will be led by Dr. Hannu Verkasalo, Zokem founder and CEO, who will report to Sean Creamer, executive vice president, U.S. Media Services for Arbitron.
William T. Kerr (CEO, Arbitron Inc.) said: “The acquisition of Zokem enhances our capabilities in the mobile audience measurement arena and provides Arbitron with valuable new resources for our growing cross-platform initiatives.”.
Hannu Verkasalo (founder and CEO, Zokem Oy) stated: “Arbitron’s expertise in survey methodology, its currency panels for media measurement and its established sales channels are a tremendous complement to Zokem’s mobile technology, mobile expertise and international footprint. We will be in a strong position to capitalize on these assets while continuing to work with our existing partners,”.