Internet services company Yahoo Inc is buying online advertising technology firm interclick Inc for $270 million in cash, a move aimed at reviving its struggling online advertising business.
Sunnyvale-based Yahoo, which is the midst of restructuring after firing its CEO last month, is paying $9 a share, representing a 22 per cent premium over interclick' closing price on Monday on Nasdaq.
Interclic, with annual revenue of about $102 million, helps advertisers identify online target audience through its open segment manager analytics platform.
Founded in 2006 and listed in 2009, New York-based interclick offers technology tools to help marketers conduct targeted online advertising campaigns.
Its online ecosystem tool Open Segment Manager aggregates and organises billions of data points from 3rd party providers - delivering actionable consumer insights, scalable audiences and the most effective campaign execution.
Yahoo generates around $600 million a year from selling online advertising space through automated systems, while Interclick had revenue of about $53 million in the first half of 2011 and about $102 million last year.