RIM the Canadian mobile phone manufacturer is looking to acquire its own mobile advertising network according to inside sources at RIM you contacted the Wall Street Journal.
The Wall Street Journal reports the RIM is currently in talks with Millennial Media who has its own network of mobile sites and ad brokers for other mobile networks.
Due to the recent sale figures achieved by rivals AdMob and Quattro Wireless acquired by Google & Apple. Millennial has asked for between $400 million to $500 million but RIM is unwilling to pay such a price.
In November 2009, Google acquired AdMob for $750 million, and in January of 2010 Apple acquired Quattro Wireless for an undisclosed sum.
Although RIM still has 17.8 percent of the global smartphone market this has slipped from 19.1 percent last year and now feels under pressure to respond to Apple and Google’s inroads in to the smartphone market.
RIM and Millennial have both declined to comment on the report by the WSJ.
Via WSJ