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This story was updated at 4:30 p.m. on Jan. 11, 2022, to include additional information
The telecommunications company T-Mobile has acquired Octopus Interactive, which has a network of interactive screens inside Uber and Lyft vehicles.
Octopus is headquartered in Bethesda, and has offices in New York and Los Angeles. Terms of the acquisition were not disclosed.
T-Mobile announced the acquisition on Monday. It said in a press release that Octopus’s ability to help brands reach specific audiences through its video ads in ride-for-hire vehicles will help T-Mobile connect with big-name brands, such as Audible and Fox Entertainment.
Octopus’s audience in ride-for-hire vehicles is largely ages of 18 to 49, has an average household income of more than $130,000 and frequently travels to an airport or a social outing, according to the press release.
Additionally, nearly half of Octopus’s users live in urban areas, the press release says.
Mike Peralta, T-Mobile’s vice president and general manager of marketing solutions, said in the press release that “with this move, we’re expanding our toolkit for marketers, meeting the needs of advertisers and empowering brands to better connect with consumers, beyond linear and traditional digital channels.”
Screens in Uber and Lyft vehicles will be powered by T-Mobile’s network.
Cherian Thomas, the co-founder and CEO of Octopus, said in the press release that it is “thrilled to join the T-Mobile team on their mission to provide better results for marketers and better experiences for consumers.”
Octopus Interactive, which has about 40 employees, was named to a recent Bethesda Magazine list of Top Places to Work.
Thomas told Bethesda Beat in an interview Tuesday that T-Mobile and Octopus had an existing business relationship because they were connectivity partners.
“All their screens are connected on LTE and soon-to-be 5G, so we’ve had an opportunity to partner, dance and date for two years,” he said.
Thomas said that all current Octopus employees are being retained and they will be “growing the team substantially.”
Dan Schere can be reached at firstname.lastname@example.org
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