Local search platform provider Local Matters has announced it will acquire mobile search platform provider mobilePeople for a combination of cash and stock. In a nutshell, this will extend Local Matters’ publisher partners’ ability to sell mobile and DA-delivered voice advertising in addition to print, IYP and a growing media bundle.

We’re seeing lots of talk and lots of development of the mobile industry on the consumer side, as the iPhone and other factors are bringing advanced mobile features — including local search — further into the mainstream. As this penetration grows, advertiser interest will follow and mobile search query volume (inventory) will increase.

To fulfill this advertiser demand, ad serving products will have to be developed that are easy to digest — especially those that target SMB advertisers. Like paid search, geographically targeted mobile ad buys that are bundled on to existing media buys, such as Yellow Pages, will probably be most salable (and scalable).

Local Matters has been smart in the moves it has made to provide much needed online functionality to Yellow Pages publishers, and its global partner/client list speaks for itself. The mobilePeople acquisition follows this trend and shows that the company is ahead of the curve in getting ready for an uptick in demand for mobile ad placements (and voice search) in the coming years.

This also comes weeks after the launch of its new social media-driven city guide platform, which similarly broadens its capability to serve local media publishers. Local Matters and mobilePeople have an existing relationship and also work with a lot of international Yellow Pages publishers (mobilePeople’s list here). More to come after we’re able to talk with Local Matters later this week.