Baltimore – BlackBerry smartphone maker Research in Motion
(RIM) (NASD: RIMM) has been in discussions to acquire Baltimore-based mobile ad network
Millennial Media, though the talks have hit a snag over the company’s value,
The Wall Street Journal reported.
Millennial reportedly has been seeking
$400-$500 million, based on the recent acquisition prices of rivals AdMob and
Quattro Wireless, though RIM so far has been unwilling to pay that much,
according to people familiar with the matter.
Millennial Media, which claims
the largest mobile ad network in the U.S., has raised $37 million in venture
capital since its inception in 2006.