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Millennial Media acquires mobile location data startup Condaptive

Tech firm purchased for undisclosed fee

Millennial Media acquires mobile location data startup Condaptive
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| Millennial news

//Addition: In Millennial's January 2012 S-1 filing, it revealed this acquisition cost $2.1 million in cash, plus 24,329 shares, worth $75,000 at the acquisition date.

Almost half a year on from its latest $27.5 million strong funding round, mobile ad network Millennial Media has acquired location data startup Condaptive for an undisclosed fee.

The deal, which was revealed via Millennial's blog, will allow the company to bolster the experience of the engineers on staff, enabling Millennial to better serve its clients.

Next steps

"Today, we are happy to announce the acquisition of Condaptive - a local startup that has built some exciting mobile technology around audience formation," said Millennial Media executive VP and CTO, Chris Brandenburg.

"Condaptive has a unique algorithmic approach to building audiences, and are able to deliver data driven insights that we believe will prove valuable for both advertisers and developers."

Brandenburg claims bringing Condaptive on board represents the next stage in the Millennial's overall growth.

"Additionally, Condaptive has built a suite of tools for their internal usage that will now be exposed to our developer community, opening up new opportunities for improving the mobile experience."

Condaptive founder and CEO Hemang Gadhia will take up the role of senior VP of audience intelligence at Millennial Media as a result.

[source: Millennial Media]

Keith Andrew
Keith Andrew
With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font. He's also Pocket Gamer's resident football gaming expert and, thanks to his work on PG.biz, monitors the market share of all mobile OSes on a daily basis.