Yahoo! Announces Agreement to Acquire Right Media, Largest Emerging Online Advertising Exchange
Key Step in Executing Yahoo!'s Long-Term Strategy to Transform How Online Advertisers Connect to and Engage With Their Customers - Both On and Off the Yahoo! Network
SUNNYVALE, Calif.--(BUSINESS WIRE)--Yahoo! Inc. (Nasdaq: YHOO - News ), a leading global Internet company, today announced that it has entered into a definitive agreement to acquire Right Media Inc., creator of the Right Media Exchange. The acquisition of Right Media will build upon Yahoo!'s leadership in online advertising and is a key step towards executing the Company's long-term strategy to transform how online advertisers connect to and engage with their customers - both on and off the Yahoo! network. Under the terms of the agreement, which follows Yahoo!'s 20 percent strategic investment in Right Media in October 2006, Yahoo! will acquire the remaining equity interest in Right Media for approximately $680 million. Shareholders will be paid in approximately equal parts cash and stock, and Right Media options and similar equity awards will be assumed by Yahoo!.