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T-Mobile acquires Bethesda-based Octopus Interactive

T-Mobile acquires Bethesda-based Octopus Interactive
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Logo from the T-Mobile Twitter page

This story was updated at 4:30 PM on January 11, 2022 to include additional information

Telecom operator T-Mobile has acquired Octopus Interactive, which has a network of interactive screens inside Uber and Lyft cars.

Octopus is headquartered in Bethesda, with offices in New York and Los Angeles. Terms of the acquisition were not disclosed.

T-Mobile announced the acquisition on Monday. In a press release, it said Octopus’ ability to help brands reach specific audiences through video ads in ride-hailing cars will help T-Mobile connect with popular brands, such as Audible and Fox Entertainment.

Octopus’s audience in ride-for-hire vehicles is largely between 18 and 49 years old, has a median household income of more than $130,000, and travels a lot to an airport or social outing, according to the press release.

In addition, nearly half of Octopus users live in urban areas, according to the press release.

“With this move, we are expanding our toolkit for marketers, meeting the needs of advertisers, and enabling brands to better connect with consumers, beyond linear and traditional digital channels,” said Mike Peralta, T-Mobile Vice President and General Manager Marketing Solutions, in the press release.

Screens in Uber and Lyft cars will be powered by the T-Mobile network.

“We are delighted to join the T-Mobile team on their mission to deliver better outcomes for marketers and better experiences for consumers,” said Cherian Thomas, co-founder and CEO of Octopus, in the press release.

Octopus Interactive, which has about 40 employees, has been named to Bethesda magazine’s list of Best Places to Work.

Thomas told Bethesda Beat in an interview on Tuesday that T-Mobile and Octopus have an existing working relationship because they were communication partners.

“All of their screens are connected to LTE and soon to be 5G, so we had the opportunity to partner, dance and date for two years,” he said.

Thomas said all current Octopus employees are being retained and will “greatly grow the team”.

Dan Schere can be reached at daniel.schere@bethesdamagazine.com

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