Mobile ad firm Millennial Media to acquire JumpTap for 24.6 Million Shares – Plans to Fight Google
Mobile ad firm Millennial Media has agreed to acquire smaller mobile firm Jumptap for 24.6 million shares of Millennial, which is worth more than $200 million.
Millennial Media was one of the top 10 mobile advertising companies recently spotlighted. The company is now the leading independent player in mobile advertising outside of Google.
Adding the Boston-based Jumptap team and tech to Millennial’s portfolio will give it even more firepower to take on Google. Combined with Jumptap, Millennial says the combined entity “will deliver market-leading data, targeting, video, rich-media, cross-screen, programmatic bidding/buying, and measurement solutions.” Additionally, Jumptap has more than 100 million audience profiles on hand, 55 issued patents, and more than 50 pending patents.
“Millennial Media already runs one of the largest third-party digital media businesses despite mobile being in its early stages,” Millennial Media CEO Paul Palmieri said in a statement. “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.”
Jumptap is a mobile advertising platform, which recently has taken a programmatic and mobile-first approach to reaching audiences. Jumptap has an audience profile store with over 100 million unique, data-rich profiles, of which more than 44 million can be reached across various screens – online and mobile. Jumptap supports its audience targeting through partnerships with more than 20 third-party data providers. Jumptap also has 55 issued patents and more than 50 patents pending, covering broad aspects of the mobile advertising market.
Millennial Media’s market leading platform will now include Jumptap’s offerings, and will result in consolidation and differentiated scale in the fast-growing mobile ad market. The companies’ combined strengths in brand and performance advertising, strategic position as a partner to developers, advances in programmatic and real-time bidding, and the use of data for improved targeting will help its customers and other industry stakeholders maximize the opportunity that mobile presents.
Millennial also recently acquired Metaresolver to help it with media buying and targeting, two areas it has been lacking in when it comes to fighting Google.