In a press release “Agreement to Acquire Right Media, Largest Emerging Online Advertising Exchange,” Yahoo! has announced the the acquisition of Right Media Inc., creator of the Right Media Exchange.
Right Media is a New York based company that provides online advertising exchange to more than 1,000 publishers. Earlier, Yahoo! had 20 percent shares of the company. After this deal, Yahoo! bought the rest of the shares for approximately $680 million.
Now with this new deal Yahoo! will have its own advertising network. Yahoo! is all set to execute its long-term plan strategy to transform how online advertisers connect to and engage with their customers – both on and off the Yahoo! Network.
Terry Semel, chairman and CEO 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 democratize the buying and selling of digitally enabled advertising."