Third Screen Media has been acquired by the Advertising.com division of AOL. It will become a new element of the firm's mobile advertising network, according to Clickz.com.
Third Screen Media provides a common platform for mobile phone internet users, advertisers and publishers.
According to AOL, its new acquisition is to operate as a wholly owned subsidiary.
Third Screen Media recently released statistics which showed it to serve over 225 million advertising impressions every month.
Lynda Clarizio, president of Advertising.com, said: "This acquisition firmly positions Advertising.com as the one-stop shop for online advertisers and publishers."
Randy Falco, Chairman and CEO of AOL, said: "AOL is one of four at-scale advertising businesses on the internet and the acquisition of Third Screen Media gives is a very strong position in the fast-growing mobile space."
Thomas Burgess, founder and chief executive of Third Screen Media, said: "This acquisition brings together two pioneers in the interactive advertising space.
"Advertising.com has long been the advertising network to watch and Third Screen Media broke new ground in the mobile advertising space with our pioneering technology and industry-leading mobile network."
