Yahoo announced today that it agreed to acquire Right Media Inc., which runs an advertising marketplace. Yahoo invested 20% in Right Media in 2006 and now Yahoo will acquire the remaining stake for $680 billions.
Right Media runs an advertising market place where advertisers and publishers buy and sell ads through auctions in real time.
By acquiring Right Media yahoo may be trying to counter Google. Google recently acquired Double Click for $3.1billion
“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!.
Pingback: Microsoft to acquire aQuantive Ad Network at Technology Bites