Phunware Buys TapIt Media Group

Austin-based Phunware, the developer of mobile application infrastructure and software, said Wednesday that it has acquired TapIt Media Group, a mobile advertising firm, for $23M. Phunware had operations in Irvine, California, and Rockville, Maryland. Phunware said it will use TapIt to power the core of its cloud-based, mobile advertising platform. TapIt supplies more than six billion ad impressions per month. PHunware is headed by Alan Knitowski.