Yahoo! Buys Mobile Ad Startup

Yahoo! has acquired mobile ad technology startup Admovate for an undisclosed sum.

Admovate is responsible for time- and location-based targeting technology. The acquisition will help strengthen Yahoo!s ad offering, with new ad products promised in the coming months.

“This acquisition is part of our efforts to invest further in our ad tech platforms—Apt, Genome, and Right Media—and make buying easier for advertisers and agencies,” said Scott Burke, SVP of display advertising and advertising technology at Yahoo!. “Admovate’s personalization technology accelerates our capabilities in mobile advertising, and we gain an exceptionally talented technical team.”

The company is the latest in a long line of Yahoo acquisitions over the last six months or so, including Tumblr, Summly, and Astrid. Yahoo this week announced its Q2 results, and – in spite of $1bn in acquisitions made during the period – posted profits of $331m (£217m), a year-on-year increase of 46 per cent.