SingTel has announced this morning that it will acquire New York-based photo sharing company Pixable for US$26.5 million as part of the company's Digital Life division.
The photo aggregation service, which looks like a cross between Instagram and Pinterest, was launched in 2009 by two former Microsoft employees, and now boasts more than 4 million users accessing the service through iOS and Android apps and through its website.
Singtel's Digital Life CEO Allen Lew said that the acquisition was designed to bring together telecommunications service providers and content sharing.
"Pixable's expertise and customer engagement give us a foundation to go beyond viewing photos to using photos as a way to stimulate simple immersive communication," Lew said in a statement. "We will be able to provide a distinctive value-added service to all mobile customers, allowing them to discover and store content, images and their communication history — essentially, what matters most from those that are really important to them"
SingTel's Digital Life division was created to generate revenue from apps and other, over-the-top services for the telecommunications company, as revenue from straight mobile operations become increasingly tight. In March, SingTel acquired mobile advertising start-up Amobee for US$321 million.