In what seems to be a direct response to Google's decision to buy Doubleclick, Yahoo has unveiled their plans to acquire the online advertising exchange company, Right Media. Yahoo had previously invested in the company successfully buying a 20% stake for $45 million. Right Media is better know for its Exchange program, which is an interactive advertising marketplace for ad networks, advertisers, publishers and technology providers auctioning for advertising space on websites of all sizes. The total investment from Yahoo sums up to approximately $680 million. The company plans to pay shareholders in equal cash and stock.
"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," said Yahoo chairman and CEO Terry Semel. "This acquisition is an important step in our long-term vision to build the industry's leading advertising and publisher ecosystem. We believe that Yahoo's open approach is a clear differentiator from others in the industry and provides significant benefits to advertisers, publishers and Yahoo itself."