Vancouver's LX Ventures (TSX-V:LXV), the high-tech incubator headed by venture capitalist Mike Edwards, announced Tuesday it is acquiring Vancouver startup Mobio Technologies for an undisclosed amount.
Just one day earlier, LX Ventures announced it had closed a private placement of four million common shares for $800,000.
Earlier this year, LX Ventures acquired Weeve.it, a crowd-funding platform for charities.
Mobio's had a hit last year with the launch of Mobio INsider, which connects fans with entertainers.
"Mobio's incentivized advertising technology is a natural fit for our AdTech market vertical," said LX Ventures CEO Mike Edwards. "Together, we will internally innovate and deliver revolutionary ways for brands to reach their target consumers across multiple market sectors."
LX Ventures is a technology accelerator that launches and invests in "early stage, high-growth technology companies."
Edwards is the founder of the high-tech accelerator GrowLab and has invested in a number of successful startups, including Punch'd, which sold to Google in 2011, and Summify, which was acquired by Twitter last year.
