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.

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