Right Media acquired by Yahoo
Yahoo has entered into an agreement to acquire the remaining equity interest in Right Media for $680 million. The deal follows Yahoo's 20 percent investment in the company last year.
The acquisition will increase Yahoo's online advertising market share, both on and off the Yahoo network. The Right Media Exchange is an online advertising exchange that publishers use to monetize their ad inventory.
The acquisition of Right Media would further Yahoo's goal to create the industry's most open, accessible and vibrant advertising marketplace, Terry Semel, chairman/CEO of Yahoo, said in a statement. He said the deal would also help democratize the buying and selling of digitally enabled advertising.
The long-term vision at Yahoo is to build the industry's leading advertising and publisher ecosystem, Mr. Semel said.
This announcement comes on the heels of Google's purchase of DoubleClick Inc. The search giant paid $3.1 billion to acquire the company, adding display ad technology to its list of previously search-focused Internet marketing services.
With the Right Media buy, Yahoo offers publishers and advertisers the benefit of a number of services under one roof rather than having to accept a single service from one of the larger players, according to Susan Decker, chief financial officer of Yahoo.
Right Media shares Yahoo's belief in a more empowered marketplace, where efficiency, transparency and accountability in online advertising become the norm, Michael Walrath, CEO and founder of Right Media, said in a statement.
Yahoo plans to increase its participation in the Right Media Exchange both as a buyer and seller.