Millennial Media is acquiring Jumptap in a "predominantly stock transaction," per a press release issued by the firms this afternoon.
Jumptap shareholders will get 24.6 million shares in the Nasdaq-traded Millennial Media, representing roughly 23 percent of the Baltimore company. All told, the purchase equals about $209 million worth of Millennial shares.
Jumptap, a mobile ad network, picked up $27.5 million in funding 14 months ago (over $120 million to date). It had reportedly planned to go public this year.
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