AOL is to acquire mobile advertising specialist Millennial Media. AOL says the deal will give it a platform for app monetisation and add more than 65,000 apps to its offering, and bring more mobile ad scale to the ONE by AOL, its unified multiscreen digital ad platform.

The deal values Millennial at $250 million (€220m) for the quoted company. AOL said it will gain access to roughly 1 billion active unique users globally and expand its cross-screen targeting capabilities and broaden its reach to international markets.

Founded in 2006, Millennial Media will become a wholly owned subsidiary of AOL.

The buy follows Verizon’s acquisition of AOL, as it gears up for go90, Verizon’s proposed mobile video offering.

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