Yahoo has bought app analytics company Flurry to help boost its advertising revenue from smartphones.
San Francisco-based Flurry helps app developers analyze data about their users and deliver more personalized ads to them.
Some of Yahoo’s rivals have also bought mobile advertising technology companies in an attempt to lure marketers to their apps, as well as generate revenue from ads on other company’s apps.
Yahoo and Flurry did not disclose the financial terms of the deal.
However, some reports indicated that Yahoo paid between $200 million and $300 million to acquire Flurry, making it one of Yahoo’s biggest acquisitions since it acquired blogging platform Tumblr in 2012.
Yahoo’s deal comes just days after it reported that its profit fell by 18% to $270 million during the three months to the end of June.
Its revenues also fell 3% to $1.08 billion.
Most of the decline was due to a sharp drop in digital display advertising, which plunged 8% in the second quarter.
However, Yahoo said that its mobile display and search revenue each grew more than 100% during the period, from a year ago.
On Monday, Yahoo and Flurry said that by joining forces they will be able to better serve their customers and boost mobile revenues further.
“With Yahoo, we will have access to more resources to speed up the delivery of great products that can help app developers build better apps, reach the right users, and explore new revenue opportunities,” Simon Khalaf, chief executive of Flurry, said in a statement.
“Over the last six years we have accomplished a lot on our own, but with Yahoo we are in an even better position to achieve our joint goals.”
Flurry works with more than 170,000 developers, picking up data from 150 billion app sessions each month, to provide information to app publishers about their audiences, app usage and performance.
The global demand for smartphones has surged in recent years and an increasing number of people are accessing the internet via handheld devices, rather than the traditional desktop computers.
That has prompted internet firms such as Yahoo, Twitter, Google and Facebook to come up with strategies to increase their revenues from mobile devices.
[youtube _H32k5Aidng 650]