AOL buys mobile platform Millennial Media
The acquisition worth $238 will strengthen AOL’s status in mobile advertising and follows a recent partnership with Microsoft.
The acquisition worth $238 will strengthen AOL’s status in mobile advertising and follows a recent partnership with Microsoft.
The acquisition worth $238, will strengthen AOL’s status in mobile advertising, and follows a recent partnership with Microsoft.
Millennial has over 65,000 apps and 1 billion active users globally including US, Singapore, Japan, UK, France and Germany. The deal adds to AOL’s and Verizon’s strategy which was to monetise and grow Verizon’s vast mobile audience while building on AOL’s advertising network. The transaction will take the form of a tender offer followed by a merger, with Millennial Media eventually becoming a wholly owned subsidiary of AOL.
Bob Lord, President, AOL said the acquisition “accelerates our competitive mobile offering in ONE by AOL and enhances our current publisher offering with an ‘all in’ monetization platform for app developers”.
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