AOL Will Acquire Millennial Media, Uniting 2 Big Baltimore Tech Offices

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When Millennial Media went public.
When Millennial Media went public.

After a summer of speculation, AOL confirmed it will acquire Millennial Media on Thursday morning.

AOL is paying $1.75 per share of common stock for the publicly-traded, Canton-based adtech company. TechCrunch estimates the deal is worth $238 million when also accounting for Millennial’s debt. That’s a 31 percent premium over the closing price on Wednesday of $1.34.

Millennial Media will become a wholly owned subsidiary of AOL in the deal, which is expected to close in the fall. AOL, in turn, was recently acquired by Verizon for $4.4 billion in a deal that was mostly about adtech.

“By joining AOL, we will be adding additional mobile expertise to AOL’s growing technology assets,” said Michael Barrett, President & CEO of Millennial Media. “I am excited by what this acquisition means for our shareholders, our employees and our partners.”

Read more at Technical.ly Baltimore

Stephen Babcock

Stephen Babcock is the editor of Technical.ly Baltimore and an editor-at-large of Baltimore Fishbowl.


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