Yahoo is buying online advertising exchange Right Media, countering Google's move to acquire the DoubleClick internet ad-targeting firm.
The internet search company, which owns 20% of Right Media, said it would acquire the remaining 80% of the company for $680m in shares and cash.
Right Media is a leader in the growing online advertising market. More than 20,000 buyers and sellers use Right Media for their transactions every day. Yahoo bought its 20% stake in Right Media in October 2006.
While announcing last month that it was buying DoubleClick for $3.1 billion, Google revealed plans for the internet ad tracking and targeting firm to create an open exchange along the lines of Right Media. Yahoo hopes to entrench Right Media as the dominant ad exchange before DoubleClick can get its footing in the market.
