Yahoo has been acquiring companies left and right since former Google executive Marissa Mayer became the company’s chief executive. Mayer has emphasized the importance of mobile, noting that it is the company’s future and focus. And it seems that Yahoo’s latest purchase will help the company further compete with Google and Apple, as the company announced on Wednesday that it has acquired mobile advertising startup Admovate.
“Admovate has created sophisticated technology that helps marketers reach their desired audience at the right time and place,” wrote Scott Burke, Yahoo’s senior vice president of display advertising and advertising technology, on the company’s blog. “This is especially important for mobile ad experiences that engage consumers on smaller screens.”
The executive said that the acquisition is part of Yahoo’s efforts to continue to invest in its advertising platform and make it easier for advertisers and agencies to buy ads. He went on to explain that Admovate’s personalization technology will help accelerate the company’s capabilities in the mobile space. The Admovate team will be relocated to the company’s Sunnyvale headquarters where it will work with the Yahoo display advertising team.
Shares of Yahoo rose more than 10% on Wednesday and closed at $29.67 per share. Financial terms of the deal were not disclosed.