AOL has acquired Millennial Media, a mobile ad company, for $238 million. The move coincides with news that Verizon (which bought AOL in May) is launching an ad-supporred mobile video service.
With the purchase of Millennial Media, AOL gets access to its 65,000 apps and roughly one billion active users spread across the globe.
“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,” said Bob Lord, AOL’s president, in a statement.
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