AOL has confirmed the acquisition Millennial Media. Marketing reported the news in July this year following global media reports on an imminent buyout.
The investment signals AOL’s continued investment in cross platform programmatic technology for marketers and publishers.
A leading end-to-end mobile platform, Millennial Media was acquired for US$1.75 per share of Millennial Media common stock.
Following AOL’s recent acquisition by Verizon, which operates the nation’s largest and most reliable wireless network, and its global enterprise-level partnership with Microsoft, today’s announcement further strengthens AOL’s mobile capabilities and underlines its position as the first global mobile media technology company.
“AOL is well positioned as consumers spend more and more time on mobile devices, and as advertisers, agencies and publishers become more reliant on programmatic monetization tools,” Bob Lord, President, AOL, said.
Founded in 2006, Millennial Media is headquartered in Baltimore, MD and has additional U.S. offices in Atlanta, Boston, New York and San Francisco, and international offices in Hamburg, London, Paris, Singapore and Tokyo. Millennial Media’s portfolio of assets includes acquisitions of TapMetrics, Condaptive, Metaresolver, Jumptap and Nexage.
The transaction will take the form of a tender offer followed by a merger, with Millennial Media becoming a wholly owned subsidiary of AOL upon completion. The transaction is subject to customary regulatory approvals and other closing conditions, and is expected to close this fall.
Goldman, Sachs & Co. served as AOL’s financial advisor on the transaction, and Wachtell, Lipton, Rosen & Katz served as AOL’s legal advisor.
LUMA Partners served as Millennial Media’s financial advisor on the transaction, and Goodwin Procter LLP served as Millennial Media’s legal advisor.According to reports on TechCrunch, AOL is making a move to buy mobile ad network Millennial Media.
Policy address: Could PR have helped?
Hong Kong - Forbes called it "feeble", Reuters said it was an "uphill battle" - CY Leung's maiden policy address yesterday has dra.. What is the expected timeline for the completion of the AOL-Millennial Media acquisition, and what regulatory approvals are required?
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