Yahoo! has today revealed that it has acquired Right Media, an online marketing and media forum.
The search engine had already acquired a 20 per cent strategic investment in October of last year and in a statement today Yahoo! revealed that it had purchased the remaining shares in a deal worth approximately $650 million (£320.1 million).
Jerry Yang, chief executive and co-founder of Yahoo! welcomed the merger and added that the company would perfectly compliment the Yahoo’s online marketing strategies.
Michael Walrath, chief executive and founder of Right Media said: "We couldn’t be happier than to have found a home with Yahoo!"
He added "[We] look forward to working with Yahoo! as we continue to build the industry’s most open, accessible and vibrant advertising ecosystem."
Earlier this week Yahoo! announced an arrival date of July 23rd for its new search marketing ranking system.
The new algorithm will allow for both quality and bid amount to influence the positioning of the ranking.