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August 19, 2010

Millennial Media and BlackBerry maker reportedly in deal talks

Baltimore's Millennial Media, one of the biggest players in the still-growing field of mobile advertising, has reportedly been in discussions to sell itself to Research in Motion (RIM), maker of the BlackBerry.

RIM may be looking to defend its flank in the mobile advertising space, since both Google and Apple have bought similar companies over the past year. Google paid $750 million for AdMob and Apple reportly paid somewhere around $250 million for Quattro Wireless.

So where does that leave Millennial? Well, according to a Wall Street Journal story, Millennial has "asked for between $400 million to $500 million," but RIM is unwilling to pay that much.

This disagreement over valuation has led to a stalemate in deal talks between the two companies, according to the WSJ.

Millennial Media's CEO, Paul Palmieri, has told The Baltimore Sun and other news outlets that the company's plan is to go public sometime next year. But that doesn't mean the company won't entertain offers for an acquisition, especially if it can fetch a price somewhere between the Google and Apple deals that showered its competitors with hundreds of millions of dollars.


This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
Posted by Gus Sentementes at 9:14 AM | | Comments (0)
Categories: *NEWS*
        

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About Gus G. Sentementes
Gus G. Sentementes (@gussent on Twitter) has been writing for The Baltimore Sun since 2000. He's covered real estate, business, prisons, and suburban and Baltimore City crime and cops. He was one of the first reporters at The Sun to use multimedia tools and Web applications -- a video camera, an iPhone -- to cover breaking news. He hopes to cover Maryland geeks and the gadgets and Web sites they build, and learn -- and share -- something new every day.

Gus has a wife, a young daughter and two feuding cats. They live in Northeast Baltimore.
This is an archived version of the technology blog. For updated coverage, see the current baltTech location: baltimoresun.com/balttech
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