Millennial Media Inc agreed to purchase Jumptap Inc for around USD225 million in stock. The move would allow Millennial Media to scoop up its rival in the mobile-advertising market.

According to a statement released today, the investors of Jumptap would gain roughly USD24.6 million shares of Millennial Media. The figure was based on the USD9.13 per share price on August 9 this year. Combining the two corporations will make it easier for Millennial Media to steal the dominance of Google in mobile advertising. Millenial Media has seen decelerating sales growth due to the customers' shift to Google.

"The addition of products, people and technology to the market-leading Millennial Media portfolio will further the mission of building the leading mobile platform worldwide," George Bell, Jumptap's Chief Executive Officer, stated.

Millennial is currently the only publicly-traded corporation concentrated solely on mobile advertising. The performance of its stocks has fallen by 35% since its initial public offering in March last year.