One 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.
"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.