Millennial Media Signs Definitive Agreement to Acquire Metaresolver
Acquisition Will Extend Millennial Media’s Leading MYDAS Platform Technology
BALTIMORE -- February 20, 2013
Millennial Media (NYSE: 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
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
For Millennial Media
Jonathan Schaffer, 212-871-3953
Matthew Lindberg, 203-682-8214
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