Mobile ad network Greystripe has formed a strategic partnership with Media Networks Inc., which specialises in geo- and demo-targeted marketing, to attack the burgeoning mobile local ad market. 

Through the partnership, MNI clients in ad categories like automotive, education, insurance, and finance, will have access to Greystripe’s mobile content and ad formats, which include its full-screen Flash ads, delivered to iPhone and Android using Greystripe’s proprietary Lighting Technology.

MNI will expand the reach of its local and regional advertisers’ online campaigns to mobile, leveraging Greystripe’s network of thousands of mobile apps and websites, which have more than 30m monthly unique visitors.

“Location is the killer app for mobile advertising,” says Greg Sterling, senior analyst with Opus Research. “Being able to deliver visually rich, engaging ads to mobile consumers creates a great opportunity to influence both their immediate and longer-term purchase decisions.”

Greystripe CEO Michael Chang says the company is proud to partner with MNI. “Together we will enable advertisers to reach local audiences on our broad network across mobile platforms,” says Chang. “When we looked for a partner to attract the large, regional brand advertisers, MNI was a natural fit.”

The local mobile ad sector in the US is currently estimated to be worth $404m, and is expected to grow by 57 per cent annually  to over $2bn by 2014, according to a recent forecast by BIA/Kelsey.