Amobee Buys Gradient X

Redwood City-based digital advertising firm Amobee said this morning that it has acquired Los Angeles-based Gradient X, a developer of real-time, programmatic mobile advertising tools. Financial terms of the buy were not disclosed. Gradient X was backed by Upfront Ventures, Rincon Venture Partners, Crosscut Ventures, Founder Collective, Double M Capital, Baroda Ventures, Siemer Ventures, Walter Kortschak (Summit Capital), and Mark Suster. Amobee said the buy adds advanced real-time bidding functionality that includes support for multiple ad channels and formats, including video and HTML5, to its platform.