Yahoo has acquired the ad company BlueLithium for $300 million in cash, it has been announced.
The move is the latest in a scramble between the internet goliaths for control of the lucrative online advertising market. BlueLithium, which is based in San Jose, is capable of reaching 66 percent of Internet users, making it the fifth largest ad network in the US.
Todd Teresi, senior vice president of Yahoo Publisher Network, said: "Yahoo has been very strong on the branding side of the business, but has struggled in recent months on the direct marketing side. "This absolutely is right in line with our strategy to get that business back on track and accelerate our growth." In April Google came to an agreement with the ad company DoubleClick to acquire it for $3.1 billion in cash. However, the acquisition has been delayed to allow US regulators to examine the deal, as it may break antitrust laws.
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