SUNNYVALE (dpa-AFX) - Search giant Yahoo!, Inc. (YHOO) agreed Monday to acquire mobile app analytics startup Flurry, Inc. in order to boost its mobile products offerings. The deal, reportedly valued at more than $200 million, will enable Yahoo to provide brands with more effective mobile advertising solutions.
'Yahoo is on a mission to re-imagine users' daily habits, and mobile is at the center of everything we do. Our agreement to acquire Flurry is a meaningful step for the company and reinforces Yahoo's commitment to building and supporting useful, inspiring and beautiful mobile applications and monetization solutions,' Yahoo said in a statement.
The deal will help boost Yahoo's advertising revenue from smartphones as Flurry analyzes data from smartphone users to optimize the mobile experience for developers, marketers and consumers.
It will enable developers to better understand their audiences to optimize and personalize their apps by connecting brands and agencies to consumers on devices through targeted advertising. This will accelerate revenue growth for thousands of developers and publishers across the mobile ecosystem.
San Francisco-based Flurry stated that its analytics product is used by 170,000 developers, and sees app activity from 1.4 billion devices worldwide monthly. It works with mobile developers in 150 countries.
Flurry noted that it has been delivering the platform and insights to help developers optimize their apps since 2008 for users to benefit from more personalized app experiences.
Analytics are critical for all mobile developers to understand and optimize their applications. Yahoo and Flurry are reinvesting in developers and continuing to build great analytics products.
'With Yahoo, we will have access to more resources to speed up the delivery of great products that can help app developers build better apps, reach the right users, and explore new revenue opportunities,' Flurry President and CEO Simon Khalaf stated.
YHOO closed Monday's regular trading session at $33.28, down $0.05 or 0.15% on a volume of 18.43 million shares.
Copyright RTT News/dpa-AFX