Sunnyvale, Calif.-based search engine powerhouse, Yahoo! Inc. has sent out a press release today saying that the company will acquire BlueLithium, a fast growing advertising company for a gargantuan sum of $300 million in cash.
“BlueLithium’s products, technology and team will be an integral part of our drive to build the industry’s leading advertising and publishing network,” stated Jerry Yang, CEO of Yahoo! Inc. “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.”
This seems to be the third major advertising-related acquisition that Yahoo! has made in the 2000s with the first two being Overture and Right Media.Â Â BlueLithium complements Yahoo!’s acquisition of Right Media since marketers that are interested in Right Media services will be able to use BlueLithium consumer-behavior analytics and ad-targeting technologies to determine what type of advertising suits them them the most.
BlueLithium was founded in 2004 by Gurbaksh Chahal:
“We believe that Yahoo! is the ideal home for BlueLithium, as we share a common goal of providing both advertisers and publishers with high quality inventory and the essential targeting and analytical tools that are necessary to reach the right consumers at the right times,” stated Chahal. “We are extremely excited about becoming a part of the Yahoo! network and believe that together, we’ll have the opportunity to shape the future of the online advertising industry,” added Chahal.