AOL Buying Millennial Media
AOL agreed to buy end-to-end mobile monetization platform Millennial Media, the acquirer said in a news release Thursday. AOL, which was recently acquired by Verizon (see 1505120019), said its buy of Millennial Media will enhance the advertising scale of its…
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mobile-first programmatic platform, One, and bring more than 65,000 apps currently using Millennial Media's platform to its publisher suite of offerings. Jennifer Fritzsche, Wells Fargo analyst, emailed investors that the acquisition values Millennial Media at nearly $238 million, and is "designed to strengthen Verizon and AOL's programmatic advertising platform as it prepares to launch" Verizon's over-the-top video service (see 1506230044). The transaction is expected to close this fall, AOL said, and will make Millennial Media a wholly owned AOL subsidiary.