Advertisement

California: News and Insight on Business in the Golden
State | THE STATE / INTERNET

Yahoo Acquiring Direct Marketer Yoyodyne

October 13, 1998|Bloomberg News

Yahoo Inc., the leading Internet search directory firm, said it is buying online direct marketer Yoyodyne Entertainment to help merchants better target Web site visitors. Yahoo will issue 280,664 shares for closely held Yoyodyne. At Friday's closing price, the deal is worth about $29.6 million. Yahoo expects to take a $2-million fiscal fourth-quarter charge for the acquisition. Yahoo shares rose $8.81 to close at $114.44 on Nasdaq. The purchase will give Santa Clara-based Yahoo an interactive marketing agency whose clients have included America Online Inc. and Microsoft Corp. Yahoo, which generates revenue mainly through selling ad space on its Web site, wants to increase electronic commerce sales with Yoyodyne's direct-marketing services. Closely held Yoyodyne employs about 50 people and is based in Irvington, N.Y.

Advertisement
Los Angeles Times Articles
|
|
|