With Quattro and AdMob tucked into much bigger enterprises, mobile ad network Millennial Media has been closely watched for its next move. Today it made a big one, acquiring TapMetrics, a San Francisco-based mobile analytics firm, focused on application usage and behavior. The acquisition adds cross-platform mobile analytics capabilities to Millennial’s existing network.

“When we raised our growth round of financing in November, we stated that we would make investments to accelerate our growth,” said Michael Avon, Executive Vice President and Chief Financial Officer, Millennial Media. “We are acquiring TapMetrics, because the company shares our approach to serve the needs of developers, regardless of mobile platform.  In addition, TapMetrics’ data and analytics capabilities complement our company’s own focus and development plans.  We continue to actively evaluate other potential acquisitions to further expand our business.”

TapMetrics software suite provides detailed analytics to enable developers to better manage their application sales and revenue via an intuitive dashboard.  By adding TapMetrics, Millennial Media will offer developers more capabilities across mobile platforms with real-time, analytics, feature and version adoption, crash reporting, competitive ratings systems, and product reviews.

Since adding $16M to its cash position in November, Millennial Media has expanded its offerings to key customer segments, to include OEM and platform partnerships that seek to access its strong base of developers and publishers.  Additionally, Millennial Media’s employee base has grown by more than 20%, as it continues to expand operations in the U.S. and Europe.

On February 16, 2010, the company released other key 2009 year over year mobile advertising growth figures, including:
•    Brand business grew 756%; Performance business grew 171%
•    Average deal size increased 353%
•    Non-U.S. impressions increased 175% year over year
•    357% increase in Apple OS impressions
•    90% increase in RIM OS impressions
•    81% reach of the Mobile Web users