Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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Apr 22 3:59 PM EDT

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To: richardred who wrote (3512)	11/8/2013 7:14:35 AM
From: richardred	of 7159

Millennial Media completes acquisition of Jumptap Sara CastellanosTechnology Reporter- Boston Business Journal Email \| Twitter \| Google+ Maryland-based mobile advertising company Millennial Media (NYSE:MM) announced Thursday it has completed its acquisition of Boston-based mobile ad network Jumptap. As part of the acquisition, Millennial Media will integrate Jumptap into the company's existing technology, including Jumptap's cross-screen targeting and advanced real-timie bidding technology, according to a release. Millennial Media will also acquire 62 issued patents and more than 50 patent applications owned by Jumptap as part of the acquisition. Jumptap specializes in offering mobile ad targeting, delivering ads to the mobile consumer most likely to care about them. The company said in August its system now reaches more than over 218 million mobile users in the U.S. and more than 439 million mobile users worldwide. Millennial Media said in August the acquisition deal would transfer 24.6 million of its shares to Jumptap shareholders. The deal was reached based upon Millennial Media's closing share price on Aug. 12, which was $9.13 per share. At that price, the stake included as part of the acquisition was valued at $224.6 million. The acquisition "further strengthens Millennial Media as it aims to redefine advertising using mobile as the foundation," according to the release. “Jumptap’s assets are incredibly complementary to what we have built at Millennial Media," said Paul Palmieri, chairman and CEO of Millennial Media in a statement, "and our combined team will have the technology, products, and expertise to help define what the future of digital advertising can be – which undeniably has its foundation in mobile." bizjournals.com

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