According to an article in the Wall Street Journal today, Blackberry-maker RIM is in the market for a mobile advertising acquisition of its own. Those close to the matter indicate RIM has been in talks with Millennial Media, a leading independent ad-network, though it’s still speculation at this point.
According to those familiar with the negotiations, RIM has reportedly been in talks with Millennial over the past few months, but largely put it to rest after neither party could agree on a sale price. Reports indicate Millennial has asked for between $400 million and $500 million, though RIM has backed down saying both Google and Apple overpaid for their respective acquisitions of AdMob and Quattro Wireless, and they don’t intend to do the same.
Millennial is unlikely to sell according to an interview with its CEO from early August with The Wall Street Journal. Millennial Chief Executive Paul Palmieri said that the company hopes to make a public offering of shares rather than be acquired. “We are on the path of being an independent company,” he said.
Regardless, RIM needs to make a move quick to bolster its fledgling business models. While the Blackberry maker still shines in the enterprise circle, its consumer segment lacks considerably when compared to the likes of Apple and the plethora of Android devices on the market. Introducing innovative consumer-focused services combined with monetization from its very own mobile-ad network could help RIM avoid the inevitable loss of relevance in the fast-paced mobile ecosystem.