AOL to acquire Millennial Media
| 04 September 2015
AOL has announced its plans to acquire Millennial Media for around $250 million.
The deal follows AOL's recent acquisition by Verizon and its partnership with Microsoft, and will strengthen AOL's mobile media and video capabilities.
Millennial adds a supply-side platform for app monetisation with over 65,000 apps to AOL's publisher suite of offerings along with access to approximately one billion global active unique users.
"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 monetisation tools," said Bob Lord, president at 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' monetisation platform for app developers."
"By joining AOL, we will be adding additional mobile expertise to AOL's growing technology assets," added Michael Barrett, president and 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 US offices in Atlanta, Boston, New York and San Francisco, as well as international offices in Hamburg, London, Paris, Singapore and Tokyo. Millennial Media's portfolio of assets includes acquisitions of TapMetrics, Condaptive, Metaresolver, Jumptap and Nexage.