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Yahoo, a leading global internet company, has announced its agreement to acquire BlueLithium, one of the biggest and fastest growing global ads networks. BlueLithium offer a number of direct response products and also offer a number of services to advertisers and publishers.

It is being reported that the deal of the acquisition is in the region of $300 million in cash.

“BlueLithium’s products, technology and team will be an integral part of our drive to build the industry’s leading advertising and publishing network,” said Yahoo Chief Executive, Jerry Yang.

“This acquisition will extend our ability to deliver powerful data analytics, advanced targeting and innovative media buying strategies to our customers, who are increasingly looking for these insights.

By leveraging BlueLithium’s complementary expertise and tools, we will be able to better address the needs of our performance-based display advertisers and enhance the value of our publishers’ inventory” he adds.

The acquisition of BlueLithium was the next step is Yahoo’s desire to create the largest and most effective ads network globally.

“We believe that Yahoo! is the ideal home for BlueLithium, as we share a common goal of providing both advertisers and publishers with high quality inventory and the essential targeting and analytical tools that are necessary to reach the right consumers at the right times,” concludes BlueLithium founder and Chief Executive Gurbaksh Chahal.