Millennial Media buys mobile software firm

February 24, 2010

Millennial Media, the largest independent mobile advertising network in the country, said Tuesday it acquired a small San Francisco-based company that makes analytical software to help developers better track their mobile phone applications' performance. Millennial paid cash for TapMetrics, but terms were not disclosed. Millennial is paying for the deal with some of the $16 million it raised from investors in November as part of its expansion plans, said Paul Palmieri, president and chief executive of the Baltimore-based company. Palmieri said the plan was to integrate TapMetrics into the products that Millennial offers to developers. Employees in TapMetrics' Washington office will work in Baltimore, while the company's San Francisco office will stay open, he said. He declined to say how many TapMetrics employs; Millennial has 75 workers.

- Gus G. Sentementes

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