(TechCrunch) – This just in: AOL, itself acquired by Verizon for $4.4 billion earlier this year, has announced that it is making another purchase of its own. It is buying Millennial Media as it continues to build out its presence in digital advertising and specifically mobile ads. AOL will be paying $1.75/share for publicly traded Millennial, working out to an enterprise value of $238 million after accounting for debt.
TechCrunch first broke news of the impending deal in July.
While a lot of AOL’S — and the wider industry’s — M&A focus in recent times has been about the acquisition of ad tech tools to further expand in areas like programmatic advertising and making sure that advertisers are getting the biggest bang out of the data they are amassing about online consumers, a turn to Millennial Media is in a way a reminder of one of the more basics aspects of the online advertising game: volume, volume, volume.
The deal will give AOL a much bigger footprint in mobile advertising, with Millennial’s network covering some 65,000 apps and 1 billion active users globally in markets like the U.S. but also Singapore, Japan, UK, France and Germany.