Yahoo has completed its purchase of online ad exchange giant Right Media for $680 million (£340 million).

The search engine giant took a 20 per cent stake in the firm last October but decided to complete the buyout after Google's purchase of advertising provider DoubleClick last week for $3.1 billion (£1.6 billion).

Right Media's specialty is in providing targeted ads to smaller websites with less traffic than traditional advertising networks.

Of particular interest to Yahoo is putting up targeted ads on social networking websites such as Bebo, MySpace and Facebook.

Terry Semel, chairman and chief executive of Yahoo, said: "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 democratise the buying and selling of digitally enabled advertising.

"This acquisition is an important step in our long-term vision to build the industry's leading advertising and publisher ecosystem."

Advertising on the internet now accounts for six per cent of total marketing budgets, according to the Institute of Practitioners in Advertising's Bellweather report.




Monday, 30th April 2007

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