RIM looking to acquire m-advertising network

If sources are to be believed, RIM is anticipating acquiring a mobile advertising network. In fact, the company was recently in discussion with US-based mobile ad network Millennial Media about a prospective acquisition.

However, the concessions ended due to differences in the value of Millennial. Millennial also brokers ad sales to a group of other mobile ad networks.

According to sources, the recent sale prices carried by competitors AdMob and Quattro Wireless have encouraged Millennial to demand for US$ 400 million to US$ 500 million. RIM has been reluctant to pay such a price.

RIM executives are unwilling to pay up for Millennial, stating that Apple and Google overpaid for their mobile-advertising acquisitions.