AOL announced today that it is to acquire Millennial Media, a mobile advertising platform, for $238 million. AOL was itself recently acquired by Verizon earlier this year for $4.4 billion. The addition of the Millennial Media will provide AOL with a mobile SSP with over 65,000 apps and provide the company with additional scale in mobile on its ‘ONE by AOL’ plaform. In a statement AOL said the Millennial Media would provide them with access to ‘approximately 1 billion global active unique users’ and accelerate the company’s mobile position in key international markets, including Singapore, Japan, UK, France and Germany.
“AOL is well positioned as consumers spend more and more time on mobile devices, and as advertisers, agencies and publishers become more reliant on programmatic monetization tools,” said Bob Lord, President, AOL. “As we continue to invest in our platforms and technology, the acquisition of Millennial Media accelerates our competitive mobile offering in ONE by AOL and enhances our current publisher offering with an ‘all in’ monetization platform for app developers.”
“By joining AOL, we will be adding additional mobile expertise to AOL’s growing technology assets,” said Michael Barrett, President & CEO of Millennial Media. “I am excited by what this acquisition means for our shareholders, our employees and our partners.”
Millennial Media was founded in 2006 and is headquartered in Baltimore, MD and has additional U.S. offices in Atlanta, Boston, New York and San Francisco, and international offices in Hamburg, London, Paris, Singapore and Tokyo. Millennial Media’s acquisitions include TapMetrics, Condaptive, Metaresolver, Jumptap and Nexage.