Company Overview of Velti Inc.
Velti Inc. provides mobile advertising solutions for customers in the United States and Europe. It offers managed services for the delivery of personalized advertisements to mobile devices over mobile content networks. The company also provides adInMotion, an ad delivery system that enables advertisers to send personalized messages to mobile customers via multiple content formats, such as video clip downloads, mobile games, streaming video, and WAP sites. It serves mobile operators, advertisers and agencies, network operators, content providers, and mobile media consumers. Velti Inc. was formerly known as Ad Infuse, Inc. and changed its name to Velti Inc. in October 2009. The company was fou...
150 California Street
San Francisco, CA 94111
Founded in 2005
Key Executives for Velti Inc.
Founder and Chief Technology Officer
Co-Founder and Executive Vice President of Business Development
Managing Director of European Business Development
Vice President of Business Development
Compensation as of Fiscal Year 2013.
Velti Inc. Key Developments
Augme Technologies, Inc. Enters Settlement with Velti Limited and Velti USA, Inc
Apr 3 13
On March 22, 2013 Augme Technologies, Inc. entered into a settlement with Velti Limited and Velti USA, Inc. pursuant to which Augme and Velti have settled the two pending lawsuits as between each other, namely (i) Civil Action No.1:12-cv-00294-LPS in the District of Delaware, and (ii) Civil Action No. C-13-0258 LB in the Northern District of California. Pursuant to the settlement, (a) Augme has granted Velti a paid-up license in all patents owned by Augme with a priority date on or before March 22, 2013 for the life of those patents, (b) Velti has granted Augme a paid-up license in all patents owned by Velti with a priority date on or before March 22, 2013 for the life of those patents, (c) Augme and Velti have covenanted not to sue each other on such patents, (d) Augme and Velti have dismissed the Lawsuits as to each other with prejudice with each side to bear its own costs, (e) Augme and Velti have released each other as to the subject matter of the Lawsuits with neither party making any admission of liability, and (f) Velti will pay Augme a lump sum payment of $200,000 no later than 10 business days following the dismissal of the Lawsuits.
Velti Plc, Mobile Interactive Group Limited, Velti Mobile Platforms Limited and Velti Inc. Enter into $50.0 Million Multi-Currency Senior Revolving Credit Facility
Aug 16 12
On August 10, 2012, Velti Plc entered into a credit agreement among the company, Velti Inc., Mobile Interactive Group Limited and Velti Mobile Platforms Limited, as borrowers, HSBC Bank plc, HSBC Bank USA, National Association and the lenders from time to time party thereto and HSBC Bank USA, National Association, as Administrative Agent. The credit agreement provides for a $50.0 million multi-currency senior revolving credit facility. The company may request borrowings under the revolving credit facility until August 10, 2015 (maturity date). The credit agreement also contains an expansion option permitting the company, subject to certain requirements, to arrange with existing or new lenders for up to an aggregate of $50.0 million in additional revolving loans. The company may use the proceeds of the loans made under the credit agreement for working capital and general corporate purposes. The loans under the revolving credit facility will bear interest at the LIBOR rate plus a spread ranging from 2.25% to 2.75% or an adjusted base rate plus a spread ranging from 1.25% to 1.75%. The spread shall be dependent upon the company's leverage ratio, as calculated according to the terms of the credit agreement. The company is also obligated to pay other customary fees, including any arrangement fees, commitment fees and administration fees, for a credit facility of this size and type.
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November 4, 2013