After investing in online advertising company Right Media, in October (and getting 20% of the company in the process), Yahoo has now shelled out $680 million to secure the remaining 80%.
In a move that many suspected and most see as an answer to Google’s acquisition of DoubleClick, Yahoo’s acquisition of Right Media will strongly boost the companies online display advertising options.
“The acquisition of Right Media will further Yahoo!’s goal to create the industry’s most open, accessible and vibrant advertising marketplace, which will help democratize the buying and selling of digitally enabled advertising,” said Terry Semel, chairman and CEO of Yahoo!, in a statement. “This acquisition is an important step in our long-term vision to build the industry’s leading advertising and publisher ecosystem. We believe that Yahoo!’s open approach is a clear differentiator from others in the industry and provides significant benefits to advertisers, publishers and Yahoo! itself.”