Yahoo to Buy Online Advertising Company

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Last updated at: (Beijing Time) Wednesday, July 16, 2003

Yahoo to Buy Online Advertising Company

Yahoo Inc., a major Internet portal and services company, has agreed to buy Overture Services Inc. for 1.63 billion US dollars in stock and cash.

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Yahoo Inc., a major Internet portal and services company, has agreed to buy Overture Services Inc. for 1.63 billion US dollars in stock and cash.

The Wall Street Journal reported Tuesday that the acquisition has been driven by Overture's pioneering advertising service, which enables its partner to display advertisements tailored to anInternet user's specific Web search.

The report also said the deal signals "Yahoo's intent to strengthen its hand in online advertising and compete more effectively with rival Google Inc."

Advertising tied to online searches has been one of the fast-growing segments of Internet marketing.

Online search advertising spending tripled in the United States,while total online-advertising spending declined 16 percent over 2001, the report cited a study by Pricewaterhouse Coopers as saying.

A Yahoo-Overture combination is not a surprise to the Wall Street as many consider such a deal to be a necessity for Yahoo toimprove its financial results.

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