Millennial Media has agreed to buy Jumptap, a smaller mobile ad firm rival, for 24.6 million shares of Millennial worth over $200 million.
The deal makes Millennial Media the leading independent player in mobile advertising outside of Google.
“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.”
Millennial also recently bought Metaresolver to help it with media buying and targeting, two areas where it trailed Google.
(Tablets in media and marketing will be one of the key sessions at the TabletBiz conference coming to New York on November 13).