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Short Take: Engage invests in wireless ad firm

Engage, an interactive media company, has taken an undisclosed minority stake in wireless advertising company Avesair. Cary, N.C.-based Avesair sells technology to telecommunications companies to deliver ads via wireless devices. The company, which launched Tuesday, is licensing its technology from Engage, which is majority-owned by CMGI. Avesair has received $16 million in a first round of funding from Nokia Venture Partners and New Things.

Engage, an interactive media company, has taken an undisclosed minority stake in wireless advertising company Avesair. Cary, N.C.-based Avesair sells technology to telecommunications companies to deliver ads via wireless devices. The company, which launched Tuesday, is licensing its technology from Engage, which is majority-owned by CMGI. Avesair has received $16 million in a first round of funding from Nokia Venture Partners and New Things.