Yahoo! Inc. has entered into a definitive agreement to acquire BlueLithium, an online global ad network that offers direct response products and capabilities for advertisers and publishers. Under the terms of the agreement, Yahoo! will acquire BlueLithium for approximately $300 million in cash. BlueLithium's product capabilities include: audience targeting based on consumer interests; remarketing ads to consumers across the web who have interacted with an ad or web page; custom segmentation; spot buying capabilities to extend reach and frequency against a marketer's target audience.
BlueLithium will become a wholly-owned subsidiary of Yahoo!. CEO Gurbaksh Chahal will remain with BlueLithium for an interim period through the integration. The transaction is subject to customary closing conditions, including regulatory approval. It is expected the transaction will be completed in the fourth quarter of 2007.