SAN FRANCISCO ― Yahoo Inc will buy online advertising technology firm interclick inc for $270 million in cash, as it looks to revive its ailing online advertising business.
Yahoo shares fell 5 percent in early trading.
The $9 a share offer represents a 22 percent premium over interclick shares’ closing price on Monday on Nasdaq.
Interclick, with annual revenue of about $102 million, helps advertisers identify online target audience through its open segment manager analytics platform.
Sunnyvale, California-based Yahoo, which has struggled to revive its online advertising business in the last few years, said it expects to use interclick’s offerings for its own display advertising business.
Yahoo shares fell to $14.04 in morning trade on Tuesday on Nasdaq.