July 27, 2011 / 7:35 PM / in 7 years

UPDATE 1-KDDI unit to buy Nobot for 1.5 bln yen - Nikkei

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July 28 (Reuters) - KDDI Corp cellular phone advertising unit mediba Inc is planning to buy rival Nobot Inc for about 1.5 billion yen ($19.2 million), the Nikkei business daily reported.     Mediba signed an agreement to buy 90 percent of Nobot’s shares from an investment fund and members of management, Nikkei said.

Nobot, second to AdMob Google Inc in the Japanese cellphone ads market, would be a mediba unit by next month, Nikkei said.

By year-end, mediba plans to install a new system that distributes ads tailored to users’ interests based on how they use their phones, Nikkei said. ($1 = 77.965 Japanese Yen) (Reporting by Eileen Anupa Soreng in Bangalore)

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