Internet measurement firm comScore Inc. has acquired mobile web measurement firm M:Metrics Inc. in a move to broaden the scope of its services.
The transaction involves a cash payment of $44.3 million and the issuance of approximately 50,000 options to purchase shares of comScore common stock to certain M:Metrics unvested option holders.
“With the substantial growth of 3G devices and Internet-friendly handsets, we believe we are now at an inflection point in Internet usage on mobile devices,” says Magid Abraham, comScore president and CEO. “Our acquisition of M:Metrics positions comScore to deliver significant shareholder value as wireless carriers, telecom equipment providers, media companies, advertising agencies, online publishers and marketers extend their reach into the mobile Internet world.” 3G refers to faster mobile phone networks that are rolling out.
M:Metrics offers three primary measurement services. MobiLens is a syndicated monthly online survey that captures overall mobile phone usage, including device information, data usage, media consumption and demographic characteristics of a representative sample of more than 40,000 mobile device users. MeterDirect is an on-device meter that measures the mobile Internet behavior and media consumption of more than 4,000 smartphone panelists. And M:Ad is a tracking service for mobile advertising that monitors clickable display advertising from a representative set of mobile web destinations.
“M:Metrics brings compelling products and an established customer base of over 180 clients. Adding comScore’s capabilities and scale to this mix will significantly enhance the company’s future growth and performance,” Abraham says. “We see compelling opportunities to increase the market penetration of M:Metrics’ products within comScore’s customer base of over 950 clients and to cross-sell comScore’s portfolio of products into the wireless industry.”
M:Metrics co-founders Will Hodgman, president and CEO, and Seamus McAteer, chief product architect, will join comScore’s management team. Their positions have yet to be determined.