Late Tuesday, Yahoo! announced that it had acquired BlueLithium for $300 million dollars in an all cash deal, giving the struggling portal a boost in terms of offering advertisers enhanced media opportunities.
"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 Yahoo CEO Jerry Yang. "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."
Kendall Allen, managing director of .
"The combination of BlueLithium's network and Yahoo's engaged audience will provide an unprecedented buying opportunity across what we believe will be one of the world's leading online display ad networks," said Susan Decker, president, Yahoo. "And BlueLithium's expertise in network management will better enable Yahoo to manage supply and demand across our network, by balancing advertiser goals with publisher value. Building on our acquisition of Right Media, this transaction demonstrates our commitment to increasing our investments in areas which can most contribute to Yahoo's long-term success."
BlueLithium CEO Gurbaksh Chahal will remain with the company on an interim basis to oversee the transition.
Michael Estrin is associate editor at iMediaConnection. .