Millennial Media Acquires Condaptive

Gail Chiasson, North American Editor

Millennial Media, Baltimore-based provider of mobile advertising and data services, has acquired mobile start-up Condaptive.

Arlington, Virginia-based Condaptive’s platform helps clients, such as developers and advertisers, form mobile audiences via the analysis of data.

Financial terms of the deal were not disclosed.

Hemang Gadhia, founder and CEO, Condaptive, will become Millennial’s senior vice-president of audience intelligence. The entire Condaptive team will be integrated into Millennial’s Technology and Innovation Group.

Millennial, which operates one of the largest independent mobile ad networks in the U.S., raised $27.5 million in January in a round of funding from Bessemer Venture Partners, Columbia Capital, Charles River Ventures and New Enterprise Associates.

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