Mobvista, the Hong Kong based mobile ad platform, has announced on Monday reaching a purchase agreement with NativeX. NativeX is a Sartell, Minnesota based ad making startup for mobile games and apps. The all cash deal has been negotiated for a value of 160 million RMB ($24.5 million).

The deal indicates consolidation in the mobile market for advertising aiming to acquire new users for games and apps. The bigger companies are getting global through acquiring operations in the regional markets, which has become a trend in the multi-billion dollar market, according to an analysis published in VentureBeat.

The announcement of intent has been made public since Mobvista Group is a publicly traded company. Rob Weber, co-founder and CEO of NativeX will continue leading the company while enjoying rank and status of vice president for Mobvista Group, as part of the agreement. Meanwhile, his brother and co-founder of NativeX will remain the company's chief product officer, reports St. Cloud Times.

NativeX has been founded in 2000 by twin brothers Robert and Ryan Weber. The company has been reported to earn profits for the last consecutive 12 years. Currently it has more than one billion users on 1,000 publishing networks.