Microsoft has finally acquired a mobile advertising service…last year it had extensive talks with U.S. mobile ad firm Third Screen Media, but nothing came out of it. (Now TSM is believed to be in final stages of its talks with AOL-owned Advertising.com).

Anyway, MSFT has now acquired European mobile phone advertising company ScreenTonic, based in Paris, France. Financial details of the acquisition were not disclosed. ScreenTonic’s mobile ad solutions includes all format, from display to text, as well as ad management and reporting capabilities for publishers as well as operators. ScreenTonic has relationships with operators in Belgium, France and the U.K., and it is likely MSFT will use the technology for U.S. as well.

ScreenTonic, founded in 2001, had funding from 3i and I-Source Gestion. History of the company here.

More details in the release.