Yahoo! Announces Completion of Right Media Acquisition

Nowadays it looks like an acquisition competition is going on... Recently Google acquired Postini and GrandCentral. Its now Yahoo's turn. Yesterday Yahoo announced about completion of Right Media Acquisition.

The acquisition follows Yahoo!'s 20 percent strategic investment in Right Media in October 2006. Under the terms of the agreement, Yahoo! has acquired the remaining equity interest in Right Media for approximately $650 million.

Michael Walrath will assume the role of senior vice president of Right Media Exchange, reporting to Yahoo!'s President, Susan Decker.

About Right Media

Right Media, Inc. is an online advertising company that operates the Right Media Exchange (RMX), a marketplace that enables advertisers, publishers, and ad networks to efficiently trade digital media. Technology providers develop services for the Exchange via APIs. Right Media also operates an online ad network called Remix Media, and allows free access to the exchange for small publishers via its Direct Media Exchange service.

Founded in 2003, the company is privately funded and based in New York, with offices in London, Moscow, Eugene, San Francisco and Tallahassee. Today, more than 19,000 advertisers, publishers and networks trade digital media with total efficiency on the Right Media Exchange.

Right Media CEO Mike Walrath was awarded the Ernst & Young Entrepreneur Of The Year 2007 award last night at a very fancy gala in Times Square. Per E&Y, the award is given to “entrepreneurs who have demonstrated excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities.”