Millennial Media just announced that it has reached an agree to acquire Jumptap, a deal that brings two mobile ad companies together. The acquisition press release describes the deal as “a predominantly stock transaction,” with Jumptap shareholders to receive 24.6 million shares in Millennial, which is publicly traded.
“Millennial Media already runs one of the largest third-party digital media businesses, despite mobile being in its early stages,” said Millennial President and CEO Paul Palmieri in the release. “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.”
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