Mobile ad and data platform Millennial Media has bolstered its offering by snapping up mobile ad network – Jumptap.

The independent 2006-founded US business, which is headed up by CEO Paul Palmieri, aims to ‘redefine advertising using mobile as the foundation’.

As a result of the acquisition, Millennial Media will integrate Jumptap’s assets into the company’s existing technology platform, including cross-screen targeting, comprehensive third-party data assets, and advanced real-time bidding technology.

Boston-based Jumptap has partnerships with more than 20 third-party data providers, and the new Millennial Media offering will have more than 480 million consumer profiles.

Millennial Media will also acquire 62 issued patents and more than 50 additional patent applications owned by Jumptap, covering fundamental aspects of mobile advertising targeting.

“With the acquisition of Jumptap, we are excited to extend our industry-leading mobile ad platform to better serve the needs of our brand and performance advertisers and intensify our innovation on their behalf,” Palmieri said.

Palmieri said its ‘enhanced position in the programmatic market’ now includes one of the most mature mobile DSP bidders (at over 1.5 billion bids per day), and one of the world’s largest mobile exchanges, MMX.

“Our new combined team will have the technology, products, and expertise to help define what the future of digital advertising can be – which undeniably has its foundation in mobile,” Palmieri added.