Mobile ad platform Millennial Media has acquired mobile SSP and ad exchange Nexage for $107.5m (£65.6m) in cash and stock.

The acquisition underpins Millennial Medias business, enabling data and audience buying, as well as allowing impressions to be bought programmatically, and increasing yields for publishers due to a growth in scale and expertise.

As a leading provide of real-time-bidding (RTB), Nexages technology will aid Millennial Media in automating the buying and selling of ads. Nexage recently announced massive growth in the uptake of programmatic and real-time buying among its users.

“We are in a very exciting time right now as we help to build, educate and advance the role of RTB and programmatic solutions to advertisers, publishers, and developers,” said Michael Barrett, president and CEO of Millennial Media. “Our vision is to create a full-stack solution that  enables us to open the flow of impressions, operate a leading independent exchange, and maximise the yield for our publishers.

“The opportunity to integrate Nexages programmatic technology with our deep roots and heritage in agency relationships will uniquely position us in the fast paced ecosystem. Together, our companies will be able to offer managed services for agencies and a complete set of progammatic tools for automated buyers. We are looking forward to having the Nexage team join our family as we continue to build the next generation of mobile advertising.”