Millennial Media and BlackBerry maker reportedly in deal talks
By Gus Sentementes
Aug 19, 2010 | 5:14 AM
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.