Baltimore—Mobile advertising company Millennial Media plans to acquire competitor Jumptap Inc. in a mostly stock deal valued at about $209 million.
Jumptap, based in Cambridge, Mass., brings to Millennial more than 100 million mobile user profiles, helping it to more narrowly target demographics advertisers are trying to reach, Millennial said in a statement.
The combination of the two companies would make up a 28.7% share of the U.S. mobile ad market, or about the same as category leader Google Inc., according to data
from International Data Corp.
Jumptap CEO George Bell will become vice-chairman of Millennial Media's board.