Millennial Media has bought mobile supply-side platform (SSP) and programmatic firm Nexage.
The deal, worth $107.5 million in cash and stock, will offer Millennial Media a way to bolster its mobile ad platform.
As the ad business shifts more toward automated, cross-platform campaigns, the publicly-traded company sought ways to increase offerings to its network of about 60,000 mobile apps and sites.
Nexage offers a Supply Side Platform (SSP) that brings Millennial’s network of ad space sources to 120, and allows real-time bidding for advertisers.
“The entire industry is facing a programmatic shift. Advertisers and publishers are moving toward automated channels to buy and sell measurable media, and Millennial Media is uniquely positioned to help them succeed. We cut our teeth as a full service network, so we understand the unique challenges of today’s mobile-centric publishers. Now, we have the technology and smarts to help them achieve those objectives with greater transparency and less friction,” said Michael Barrett, President & CEO at Millennial Media. “The reaction we received from advertisers, publishers, and partners has been overwhelmingly positive. We are excited to formally welcome the Nexage team into the Millennial Media family.”
“Millennial plays a crucial role as a fair, independent and proactive network partner. Their technology is reliable and their account management team is incredibly focused on supporting our business needs” said Ben Webley, VP of Ad Monetization and Operations at Zynga. “We have been partners for many years and are pleased to see them build even stronger programmatic capabilities.”
In addition, with the close of the transaction, former CEO of Nexage, Ernie Cormier, has joined Millennial Media’s Board of Directors.
www.millennialmedia.com