Yahoo acquires Right Media Inc.
Internet company Yahoo has announced that they have acquired the remaining 80 percent interest in online advertising exchange Right Media Inc.
They paid nearly $680 million for this stake they did not own previously. Yahoo had acquired the 20 percent stake in the company in October 2006.
Yahoo said that the shareholders in the company would be paid in roughly equal parts of cash and stock. Yahoo is now assuming the Right Media’s options and equity awards.
Right Media is already serving close to 19,000 advertisers, publishers and networks who buy and sell advertising on its auction-based exchange.
Terry Semel, Yahoo’s chairman and chief executive said in a statement that this acquisition is part of their 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.
|
TechWhack on Facebook
|
This website uses IntenseDebate comments, but they are not currently loaded because either your browser doesn't support JavaScript, or they didn't load fast enough.