Discovery Group I LLC disclosed a 5.3% stake in Velti PLC (VELT), saying it believes the mobile marketing advertising company's share price does not adequately reflect the potential value of the company's business and assets. Shares of Velti, which provides mobile marketing and advertising technology for advertising agencies, mobile operators and media companies, were up 2.2% at $4.11 in light after hours trading. Through the close, the stock has fallen 61% over the past 12 months. In a filing with the Securities and Exchange Commission, Discovery Group said it intends to review and evaluate its investment in Velti on an ongoing basis. The investment firm, which is based in Chicago, said it may hold discussions with Velti's management and directors, other shareholders and other interested parties. A Velti representative was not immediately available for comment. The company has seen strong demand for its services, posting double-digit revenue gains in recent quarters. It has divested declining assets in Greece and the Balkan States to focus to its key growth geographies and products.