Sunnyvale, Calif. - Yahoo has announced that it will acquire BlueLithium, a San Jose, Calif.-based online advertising network, for about $300 million in cash.

Yahoo said its purchase of the three-year-old company will allow it to accelerate its advertising, product and engineering plans, and provide increased capabilities to sell and measure performance-based campaigns both on and off the Yahoo network.

BlueLithium uses data from 145 million consumers worldwide to develop its behavioral ad targeting services.

The company is the fifth-largest ad network in the U.S., and the second-largest in the U.K.

Chief executive and founder Gurbaksh Chahal will remain with BlueLithium for an interim period through the integration, Yahoo said.

The deal is expected to close in the fourth quarter of 2007.

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http://biz.yahoo.com/bw/070904/20070904006334.html?.v=1

http://www.bluelithium.com