By Jessica Davies

Millennial Media is to acquire mobile supply-side platform (SSP) and ad exchange Nexage for $107.5m (£65.5m).

The mobile ad platform will pay approximately $22.5m (£14m) in cash and $85m (£52m) in stock, subject to adjustments, with Nexage shareholders to receive circa 37 million newly issued shares of Millennial Media based on a price of $2.21 (£1.35) per share.

Millennial Media expects the Boston-based Nexage to help strengthen its current programmatic mobile ad trading offering, in turn increasing yields for publishers and opening up more data-rich, real-time bidding-based audience buying opportunities for advertisers.

Michael Barrett, president and chief executive of Millennial Media (pictured), said Read full story ›

Source: The Drum