A very softly-pedaled merger caused a New York-based technology company to climb the charts Thursday.
Mobiquity Technologies, Inc. (OTC:MOBQ), dubbed a leading provider in next generation advertising technology, and Source Digital, a patented interactive video and advanced commerce platform, today announced their partnership to integrate technologies.
The partnership will create a new format of Interactive Shoppable Video Advertisements (ISVAs) that engages audiences with more content, product or offer information, and allows eCommerce Purchases from shopping carts directly within video ad units.
Digital video advertising reportedly grew at a 42% last year, and will continue to see market expansion as 71% of Internet users now log in to an over-the-top (OTT) video service.
According to CEO Dean Julia, "We were very impressed with the Source interactive video capabilities demonstrated in our first partner project, and are excited to be the exclusive programmatic outlet for Source Digital's ISVAs, bringing this new video unit to market first."
Shares in Mobiquity acquired nine cents early Thursday afternoon, or 12%, to 8.4 cents, on volume of 58,900 shares.