Yahoo Inc. (YHOO) on Tuesday said it is investing in two online ad providing companies. The investments come on the heels of a recently-disclosed slowdown in ad sales that forced Yahoo to reduce third-quarter revenue expectations.
The Sunnyvale, Calif.-based firm on Tuesday announced it is buying a 20% stake in New York-based Right Media Inc., provider of the Right Media Exchange used by thousands of companies to buy and sell online advertising through an auction process.
The investment by Yahoo is part of a new $45 million round of financing into Right Media led by Yahoo, a new investor into the three-year-old firm, and previous investors Redpoint Ventures, a venture capital firm.
Also Tuesday, Yahoo said it has agreed to buy Fysix Corp. Fysix is the provider of AdInterax, which is used by online publishers to create and manage online ad campaigns.
Yahoo plans to use AdInterax's technology to introduce a self-service program to help businesses design and run advertising campaigns using video and other forms of rich media, Yahoo said.
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