Research In Motion shopping for a mobile ad network

Research In Motion (NASDAQ:RIMM) is reportedly in the market to acquire a mobile advertising network to bolster its BlackBerry platform. Citing sources familiar with RIM's search, The Wall Street Journal reports the device maker has held talks with mobile ad network Millennial Media, but negotiations stalled when Millennial quoted an asking price between $400 million and $500 million, in the same realm as deals for rival mobile ad firms AdMob (acquired by Google for $750 million) and Quattro Wireless (purchased by Apple [NASDAQ:AAPL] for a reputed $275 million). Sources add RIM execs believe Google and Apple overpaid for their respective acquisitions--both RIM and Millennial Media declined comment.

During its annual BlackBerry Developer Conference in November 2009, Research In Motion announced the wheels were in motion to introduce a new services platform enabling developer partners to integrate mobile advertising into their BlackBerry applications. Virtually nothing about the effort has come to light in the months since, although a U.S. patent filing uncovered by MobileSyrup.com in February 2010 outlines a "system and method for incorporating multimedia content into a message handled by a mobile phone," explaining "Multimedia content can be incorporated into a message handled by a mobile device with minimum invasiveness by utilizing linking mechanisms that are visually identifiable with certain content and can reveal the multimedia content, e.g. an advertisement, upon selection." It is unknown whether RIM has chosen to acquire a mobile ad solution instead of developing services in-house.

In April 2010, reports surfaced that Microsoft was in talks to acquire Millennial Media. Citing an industry source, Business Insider reported Microsoft and Millennial had been in negotiations for months, with a basic agreement said to be in place but not yet finalized--no official announcement ever materialized, however. Last month, Millennial CEO Paul Palmieri told TechCrunch the firm is mulling an IPO, possibly as soon as 2011.

For more on RIM's mobile ad network search:
- read this Wall Street Journal article

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