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Mobile ad firm Millennial Media to acquire TapMetrics

Millenial Media Inc., a developer of mobile advertising, said it will acquire TapMetrics, a San Francisco-based mobile analytics firm.

TapMetrics’ software suite provides detailed analytics to help mobile phone application developers better manage their sales and revenue. Baltimore-based Millenial Media said the acquisition will enable it to offer developers more capabilities across mobile platforms.

TapMetrics will continue to be based in San Francisco. Terms of the transaction were not disclosed.

Millennial Media raised $16 million in venture capital in November 2009. The company is led by Paul Palmieri, a former top executive at Baltimore-based Advertising.com.

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