Last Wednesday, Telefnica, the Spanish telecom, beat its competitors to the punch: it teamed with the private equity firm Blackstone to buy the technology behind MobClix, a defunct mobile ad exchange.
On the surface, it's a natural move. For mobile advertisers hungry for user data, the richest sources are the mobile carriers themselves. And, for the carriers, mobile ads are a convenient new well for revenues as smartphone ownership in the U.S. and Europe approaches a peak.
Telefnica's counterparts across the Atlantic have certainly thought so. At a conference two years ago, Bill Diggins, the head of Precision Market Insight, a division of Verizon Wireless, teased his venture's potential with an aphorism familiar to the advertising world: "Data is the new oil."
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