Internet services giant Yahoo! announced in a corporate press release that it has entered into a definitive agreement to acquire BlueLithium, one of the largest and fastest growing online global ad networks that offers an array of direct response products and capabilities for advertisers and publishers. Under the terms of the agreement, Yahoo! will acquire BlueLithium for approximately $300 million in cash.
"BlueLithium's products, technology and team will be an integral part of our drive to build the industry's leading advertising and publishing network," said Jerry Yang, chief executive officer, Yahoo! Inc. "This acquisition will extend our ability to deliver powerful data analytics, advanced targeting and innovative media buying strategies to our customers, who are increasingly looking for these insights. By leveraging BlueLithium's complementary expertise and tools, we will be able to better address the needs of our performance-based display advertisers and enhance the value of our publishers' inventory." -Jerry Yang, CEO of Yahoo said.
"We believe that Yahoo! is the ideal home for BlueLithium, as we share a common goal of providing both advertisers and publishers with high quality inventory and the essential targeting and analytical tools that are necessary to reach the right consumers at the right times," said Gurbaksh Chahal, founder, chairman and chief executive officer for BlueLithium. "We are extremely excited about becoming a part of the Yahoo! network and believe that together, we'll have the opportunity to shape the future of the online advertising industry." - BlueLithium said.
This is one of the bigger recent yahoo purchases!
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