Millennial Media acquires mobile location data startup Condaptive

Mobile advertising network Millennial Media has acquired location solutions platform provider Condaptive. Financial details were not disclosed. Condaptive confirmed the deal on its website.

The Condaptive platform promises developers and marketers the tools to create location-enabled, context-aware mobile applications that pinpoint users' whereabouts and deliver relevant information. TechCrunch reports Millennial Media will integrate the full Condaptive staff into its ranks, with Condaptive founder and CEO Hemang Gadhia assuming the position of senior vice president of audience intelligence.

Millennial Media reaches over 142 million unique mobile subscribers each month, with monthly ad requests topping 23 billion. Earlier this year, the company secured $27.5 million in growth equity funding from Bessemer Venture Partners, Columbia Capital, Charles River Ventures and New Enterprise Associates, bringing its total funding to more than $65 million--at that time, Millennial Media stated it would earmark the new funding to target acquisition prospects. In 2010, Millennial Media acquired mobile analytics provider TapMetrics.

For more:
- read this TechCrunch article

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