Millennial Media Signs Definitive Agreement to Acquire Metaresolver
Acquisition Will Extend Millennial Media's Leading MYDAS Platform Technology
BALTIMORE--(BUSINESS WIRE)-- Millennial Media (NYS: MM) , the independent leader in mobile advertising and data, today announced that it has signed a definitive agreement to acquire San Francisco-based Metaresolver, a privately held mobile media buying and targeting platform, in an all-cash transaction. The closing of the acquisition is subject to the satisfaction of various customary closing conditions.
The Metaresolver platform harnesses and analyzes volumes of data to deliver efficient programmatic mobile media buying for advertisers. Metaresolver uses highly accurate data to identify and build audiences that brands can target with campaigns. Data is evaluated through an industry-leading vetting process, ensuring that insights and audiences are derived from a clean and accurate foundational data set.
"The data available in mobile is unlike that of any other advertising medium. Accurately gathering and categorizing this data can be the difference between serving an ad that is relevant to a consumer and one that is not," said Paul Palmieri, President and CEO, Millennial Media. "Metaresolver's data-driven approach and technology will allow our platform to go one step further and provide additional value to our advertiser and developer partners."
Metaresolver was founded by Seamus McAteer, the co-founder of mobile audience measurement firm M:Metrics, which was later acquired by comScore, and Mike Rowehl, the first engineer at AdMob. Rowehl was also involved in launching Chomp, the mobile app search and discovery platform acquired by Apple in 2012. Other members of the Metaresolver team previously held senior roles at companies such as Yelp, Nielsen and Moderati.
"Millennial Media's vision for the future is closely aligned with the goal we set out to achieve at Metaresolver - delivering more value by harnessing the power of mobile user data," said Seamus McAteer, CEO, Metaresolver. "We are very excited to work with the Millennial team to unlock value for advertisers in mobile."
The Metaresolver team will continue to be based out of San Francisco.
The statements in this press release that are not historical facts constitute "forward-looking statements" that involve risks and uncertainties and are made pursuant to the Private Securities Litigation Reform Act of 1995. These forward-looking statements include expectations regarding the closing of the acquisition and Millennial Media's ability to integrate Metaresolver's technology into its platform. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to, Millennial Media's ability to incorporate Metaresolver's technology and integrate and retain Metaresolver personnel and the risk that the transaction may not close as a result of the failure to satisfy closing conditions, as well as those factors contained in the "Risk Factors" section of Millennial Media's Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission on February 20, 2013, and in the company's other filings with the SEC from time to time. These documents are available on the 'SEC Filings' section of the Investor Relations page of our website at http://investors.millennialmedia.com. All information in this press release is as of February 20, 2013. Except as required by law, Millennial Media undertakes no obligation to update publicly any forward-looking statement made herein for any reason to conform the statement to actual results or changes in its expectations.
About Millennial Media
Millennial Media is the leading independent mobile advertising and data platform. Our technology, tools and services help app developers and mobile website publishers maximize their advertising revenue, acquire users and gain audience insights. Our platform also enables us to offer advertisers powerful Mobile Audience Solutions (MAS) that utilize our significant scale, sophisticated targeting and uniquely engaging creative capabilities to deliver meaningful results.
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