Yahoo! Inc. (YHOO) is adding to its mobile lineup with the acquisition of analytics company Flurry Inc.
Yahoo is paying more than $300 million for the San Francisco-based startup, according to people with knowledge of the matter, who asked not to be identified because the talks were private. Flurry analyzes data from smartphone users so developers can better understand their audiences, and helps brands target ads on devices, giving Yahoo more pathways for mobile promotions.
Yahoo Chief Executive Officer Marissa Mayer, who has called mobile a key part of her turnaround effort, has stepped up dealmaking as she looks to jump start growth at the Web portal. The Sunnyvale, California-based company last year spent about $1.1 billion on blogging platform Tumblr and has since bought several smaller companies, including mobile-homescreen provider Aviate and video-distribution platform RayV. Yahoo has announced or completed at least 12 acquisitions this year, according to data compiled by Bloomberg.
“It ties right into Yahoo and mobile first and all of the investments we’re making into mobile today,” Scott Burke, Yahoo’s senior vice president of advertising technology, said in an interview yesterday. “Flurry is the next logical step to extend our reach. They have a great brand.”
Source: Bloomberg Business News