AOL Scoops Up Mobile Ad Network Millennial Media for $238 Million

Deal opens up ad space in 65,000 apps

After two months of speculation, AOL has acquired mobile ad network Millennial Media for $238 million, or about $1.75 per share.

The Millennial deal is the newest step in building out AOL's tools to compete in mobile advertising against behemoths like Facebook, Yahoo and Google.

With the deal, Verizon-owned AOL is getting access to mobile inventory in Millennial's 65,000 apps—equivalent to 1 billion active global users in markets like Germany, France and Japan. It will also help build out its cross-screen programmatic platform called One.

"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 AOL's president Bob Lord in a statement.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in