Press Release |
Press Release |
Press Release |
SUNNYVALE, Calif. & NEW YORK, Jul 12, 2007 (BUSINESS WIRE) -- Yahoo! Inc. (Nasdaq:YHOO), a leading global Internet company and Right Media Inc., creator of the Right Media Exchange, today announced that Yahoo!'s acquisition of Right Media has been completed.
"We are pleased to have closed our Right Media acquisition so quickly and are excited to welcome Right Media's talented employees to the Yahoo! family," said Jerry Yang, CEO and co-founder, Yahoo! Inc. "We believe Right Media will be a perfect complement to our industry leading advertising tools and capabilities and help Yahoo! continue to transform how advertisers and publishers connect to their target audiences."
The acquisition follows Yahoo!'s 20 percent strategic investment in Right Media in October 2006. Under the terms of the agreement, Yahoo! has acquired the remaining equity interest in Right Media for approximately $650 million.
"We couldn't be happier than to have found a home with Yahoo!, and look forward to working with Yahoo! as we continue to build the industry's most open, accessible and vibrant advertising ecosystem," said Michael Walrath, CEO and founder of Right Media.
Michael Walrath will assume the role of senior vice president of Right Media Exchange, reporting to Yahoo!'s President, Susan Decker.
About Yahoo!
Yahoo! Inc. is a leading global Internet brand and one of the most trafficked Internet destinations worldwide. Yahoo!'s mission is to connect people to their passions, their communities and world's knowledge. Yahoo! is headquartered in Sunnyvale, California.
This press release contains forward-looking statements that involve risks and uncertainties concerning Yahoo!'s acquisition of Right Media Inc. (including without limitation the statements contained in the quotations from management in this press release), as well as Yahoo!'s strategic and operational plans. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties. The potential risks and uncertainties include, among others, Yahoo!'s ability to effectively integrate Right Media's operations and the possibility that the anticipated benefits to Yahoo!, advertisers and publishers may not be realized. More information about potential factors that could affect Yahoo!'s business and financial results is included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2006 and Quarterly Report on Form 10-Q for the period ended March 31, 2007 which are on file with the SEC and available at the SEC's website at www.sec.gov.
Yahoo! and the Yahoo! logo are registered trademarks of Yahoo! Inc.
All other names are trademarks and/or registered trademarks of their respective owners.
SOURCE: Yahoo! Inc.
Yahoo! Inc. Helena Maus, 408-349-7085 helena@yahoo-inc.com
Copyright Business Wire 2007
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