Home Mobile Millennial Media Snaps Up Jumptap For $193 Million

Millennial Media Snaps Up Jumptap For $193 Million

SHARE:

mobile-mashupOne big old mobile ad network is set to acquire another. Publicly-traded Millennial Media announced an agreement to buy Boston-based Jumptap for a combination of tech and stock. Read the release.

While Jumptap’s roots are in a traditional publisher network model, Millennial called Jumptap a “programmatic and mobile-first” platform.

According to Millennial CEO Paul Palmieri, Jumptap’s strategic benefits include more focused presence in performance advertising, additional capabilities in mobile RTB, and third party data partnerships that complement Millennial’s first party data assets. On a conference call with investors he cited Jumptap’s more than 20 third party data partnerships, calling the aggregated partner approach “comprehensive and impressive.” Additionally, he said Jumptap’s intellectual property assets around mobile ad targeting will strengthen Millennial’s patent trove.

Jumptap has an all-star cast of ad technology investors, including Red Point Ventures, WPP, General Catalyst Partners, and Valhalla Partners. It raised $27.5 million just last month, bringing its total funding to $122 million.

Under terms of the deal Jumptap shareholders will get 24.6 million shares of Millennial Media stock, equivalent to an approximately 22.5% ownership stake. In after hours trading, Millennial Media stock is trading down at $7.90 and puts the value of the transaction at $193.5 million. Millennial’s current market cap is $676 million.

“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,” Palmieri said in a statement. “We are thrilled to add Jumptap’s capabilities, their solution set and strong team as part of our mobile advertising business, and look forward to partnering with the team.”

Jumptap CEO George Bell will join the Millennial board as vice-chairman.

So much for a slow August in ad tech land. This transaction follows the Aol/Adap.tv deal on August 7 and yesterday’s DG/Extreme Reach transaction – both of which were focused on the video channel.

Must Read

AppsFlyer and Roku’s New SRN Integration Will Shed Light On CTV Campaign Impact

Roku and AppsFlyer announced the launch of a new self-reporting network (SRN) integration between both companies, which will allow mobile app advertisers to more effectively measure their streaming video campaigns

Comic: Gamechanger (Google lost the DOJ's search antitrust case)

DOJ v. Google: How Judge Brinkema Seems To Be Thinking After Week One

Where the DOJ v. Google ad tech antitrust trial stands after one week’s worth of remedies arguments.

Swish, A Company That's Bringing Programmatic to Product Sampling, Announces Seed Funding

Swish, a startup that partners with retailers to provide product full-size CPG samples to people doing their grocery shopping online, announces $2.3 million in seed funding.

Privacy! Commerce! Connected TV! Read all about it. Subscribe to AdExchanger Newsletters

DOJ v. Google: During Opening Arguments, The DOJ And Google Battle Over An AdX Divestiture

Court is back in session. And the fate of  the open internet is in the balance.

Chris Mufarrige, director, Bureau of Consumer Protection, FTC

FTC Consumer Protection Chief: No Easy Answers On Privacy, ‘Only Trade-Offs’

Privacy isn’t black-and-white, says the FTC’s Chris Mufarrige, promising evidence-driven consumer protection cases under the Trump administration.

How Encryption Keys Could Resolve The TID Furor

Rather than sharing universal TIDs that any DSP or curator can access, Raptive says publishers should instead share encrypted TIDs with an encryption key provided only to trusted demand-side partners.