Single Touch Systems Inc. (OTC BB: SINO) has acquired ad targeting service Double Vision Networks for $4 million.

The two companies had originally partnered together on Single Touch's flagship product, "Follow Me," a location-based advertising service. Now that New York-based Double Vision is in-house, Single Touch believes the target will be to help retail clients — notably Walmart and RadioShack (NYSE: RSH) — to reach customers more directly.

Both companies provide mobile services to businesses, advertisers and brands, using a technology that enables marketers to have a presence on all types of mobile devices as a means of enhancing customer loyalty.

Recently, the company announced that former AT&T Inc. (NYSE: T) president Betsy Bernard has become the lead director of the Jersey City, New Jersey-based company's board.

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