Millennial Media To Buy Jumptap

(RTTNews) - Millennial Media Inc. (MM) said Tuesday that it has agreed to buy privately-held, Boston-based Jumptap in a predominantly stock deal.

Under the terms of the agreement, based on Millennial Media's closing share price on August 9, Jumptap shareholders will receive about 24.6 million shares of Millennial Media, corresponding to about 22.5% pro forma ownership post transaction.

The closing of the acquisition is subject to the satisfaction of various customary closing conditions, including approval by Millennial Media's stockholders.

Jumptap is a mobile advertising platform, which recently has taken a programmatic and mobile-first approach to reaching audiences. Jumptap has an audience profile store with over 100 million unique, data-rich profiles, of which more than 44 million can be reached across various screens - online and mobile. Jumptap supports its audience targeting through partnerships with more than 20 third-party data providers. Jumptap also has 55 issued patents and more than 50 patents pending, covering broad aspects of the mobile advertising market.