Yahoo! snaps up BlueLithium, looking to rival Google
Yahoo! has bought online marketing business BlueLithium for $300 million (£149.4 million).
The acquisition is the latest in a series of deals by Yahoo! as it seeks to challenge market leader Google.
Earlier this year, the search engine secured Right Media, one of the largest internet advertising exchanges, for a price tag of about £337 million.
BlueLithium, which has ten offices in the US and Europe ad a team of 135, will become a wholly-owned unit of Yahoo!
Founded in 2004, it is the second-largest advertising network in the UK, according to comScore Media Metrix.
Yahoo! chief executive Jerry Lang said: “BlueLithium’s products, technology and team will be an integral part of our drive to build the industry’s leading advertising network.”
Gurbaksh Chahal, BlueLithium’s chief executive, will remain with BlueLithium for an “interim period” of integration.
Both companies use ‘cookie technology’, small data files that create online profiles which advertisers to better tailor their online marketing strategies to the individual consumer.
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