Independent mobile advertising business Millennial Media has agreed to acquire privately-owned rival Jumptap. The deal is described as a 'predominantly stock transaction', with Jumptap shareholders receiving Millennial Media shares.
It’s thought the combined company will control more than 25% of the mobile advertising network market, giving it a similar share to Google, although Google earns considerably more mobile ad revenue.
Paul Palmieri, President and CEO of Millennial Media, said “Millennial Media already runs one of the largest third-party digital media businesses, despite mobile being in its early stages. Jumptap’s expertise in performance, cross-screen, real-time bidding and third-party data fit well with, and provide incremental scale to Millennial Media’s existing platform. We are thrilled to add Jumptap’s capabilities, their solution set and strong team as part of our mobile advertising business, and look forward to partnering with the team.”
[Millennial Media blog; Jumptap blog]