Rentrak and Millennial Media are launching a new product where advertisers can retarget TV commercials to mobile devices. With the new product, the companies say markets can measure results to see their specific return on investment. They can also secure “share of voice” data from Rentrak, the TV/media research company, and Millennial Media, the mobile advertising company.
In its first major acquisition since itself being acquired by telecommunications giant Verizon, AOL this morning announced a deal to buy mobile app advertising network Millennial Media for $1.75 per share, a 30% premium over Wednesday’s closing price for the publicly-traded firm’s common stock. The deal will add one of the largest suppliers of mobile app advertising impressions to AOL’s programmatic and direct selling infrastructure.
AOL, recently acquired by Verizon for $4.4 billion, appears to be wasting little time in continuing to build out its advertising business. Sources say the company has been in the process of buying mobile ad network Millennial Media for $300 million-$350 million.