SAN FRANCISCO (Reuters) - Yahoo Inc will buy mobile analytics startup Flurry to beef up a fast-growing mobile advertising business that still lags Google Inc's and Facebook Inc's in scale.
Six-year-old Flurry uses analytics to help target ads at consumers, by monitoring activity on more than half a million apps on some 1.4 billion mobile devices around the world, Yahoo said in a statement on Monday.
The startup provides information to help marketers and brands more easily reach their desired audiences, Yahoo said.
Yahoo did not cite a price tag, but influential tech blog re/code earlier cited people with knowledge of the situation as saying that Yahoo paid "hundreds of millions" of dollars.
Flurry will operate much as before after the acquisition closes, and its team will remain in their current locations, Yahoo added.
Like its rivals, Yahoo has been investing in its mobile advertising platform, as users increasingly access the Internet from smartphones and tablets. Its mobile advertising revenue more than doubled in the second quarter.
(Reporting by San Francisco newsroom; Editing by Richard Chang)
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