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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| NYSE:MM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.75 | 0 | 01:00:00 |
From May 2019 to May 2024
By Chelsey Dulaney
AOL, recently acquired by Verizon Communications Inc., has agreed to buy Millennial Media Inc. for about $250 million, a move to grow its app monetization services.
The offer of $1.75 a share is a 31% premium to Millennial Media's closing price on Wednesday of $1.34 a share.
Millennial Media, founded in 2006, offers advertising and monetization services for mobile and Web-based products. Its platform has over 65,000 apps.
AOL expects the deal to add scale to its mobile brand advertising options and to accelerate its position in markets such as Singapore, Japan, and Germany.
"As we continue to invest in our platforms and technology, the acquisition of Millennial Media accelerates our competitive mobile offering in ONE by AOL and enhances our current publisher offering with an 'all in' monetization platform for app developers," said AOL President Bob Lord in a news release.
Verizon agreed in May to buy AOL in a $4.4 billion deal aimed at advancing the telecom giant's growth ambitions in mobile video and advertising. AOL has advanced technology for selling ads and delivering high-quality Web video.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 03, 2015 08:36 ET (12:36 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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