Mobile-app development company MobUI announced Monday that it has raised an undisclosed amount of funding and acquired Action Engine, a fellow mobile-app firm with customers including TiVo, AOL, and The Wall Street Journal.
Though terms of the acquisition haven't been made public, the motivation for MobUI's move is obvious: the success of Apple's iPhone App Store. Since it was launched on in early July, more than 100 million mobile applications have been downloaded.
Other Action Engine customers include MarketWatch, Barrons, MSNBC, and Sports Illustrated. With the acquisition, MobUI said it plans to rapidly create iPhone, mobile Web, and downloadable applications for major consumer brands.
The round of funding was led by GlobalNet Mobile Solutions, a wireless application services provider in Latin America.