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 in mobile.”
The Metaresolver team will continue to be based out of San Francisco.