AOL announced the acquisition of Baltimore-based mobile platform Millennial Media, Inc., for $1.75 per share of Millennial Media common stock in a deal that values Millennial at nearly $250 million.
Following AOL’s recent acquisition by Verizon and its global enterprise-level partnership with Microsoft, AOL said in a press release that the acquisition “further strengthens AOL’s mobile capabilities and underlines its position as the first global mobile media technology company.” AOL now operates scaled global content brands, a scaled global content delivery network, a scaled global programmatic advertising platform and a subscription services platform.
According to the announcement, with the acquisition of Millennial Media, AOL will:
- Add a leading supply-side platform for app monetization with over 65,000 apps to its publisher suite of offerings;
- Add significant mobile brand advertising scale across ONE by AOL;
- Have access to approximately 1 billion global active unique users and robust addressable and cross-screen targeting capabilities;
- Accelerate its mobile position in key international markets, including Singapore, Japan, UK, France and Germany;
- Add world-class engineering, sales and product talent that specialize in mobile to AOL.
“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.”
Founded in 2006, Millennial Media is headquartered in Baltimore 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 portfolio of assets includes acquisitions of TapMetrics, Condaptive, Metaresolver, Jumptap and Nexage.