X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
SKADDEN HELPS YAHOO BUY AD COMPANY FOR $ 300M Yahoo Inc.’s latest move to bolster its online advertising arsenal was a boon for SKADDEN, ARPS, SLATE, MEAGHER & FLOM. The firm represented the search giant, which announced Sept. 4 it will acquire fellow Silicon Valley company BlueLithium in an all-cash deal worth $300 million. Yahoo hired Latham & Watkins for its previous advertising-world acquisition, a $650 million deal to buy New York’s Right Media. Skadden counsel Amr Razzak, who helped lead his firm’s team on the BlueLithium deal, said Yahoo’s not turning to Latham this time doesn’t mean the company had switched its M&A firms. “We’d love to see a switch,” he said, laughing. “But we know that Yahoo does deals with Latham from time to time and they do a lot of deals for us. They just use both firms.” The transaction with BlueLithium, which was represented by WILSON SONSINI GOODRICH & ROSATI, went smoothly, Razzak said. It was structured as a reverse subsidiary merger and was not affected, Razzak said, by the current credit crunch, which has put the brakes on several M&A transactions. “I think we had a healthy deal dynamic,” he said. “When issues did come up, everybody tried to be constructive.” San Jose’s BlueLithium allows advertisers to only pay for ads that garner clicks. With this acquisition and the Right Media deal in April, Yahoo appears to be gathering more sophisticated online advertising tools. Analysts say acquiring these tools for so-called behaviorally targeted advertising is a key goal for the Internet’s biggest companies, such as Google and Microsoft Corp. Earlier this year, Google acquired online ad company DoubleClick Inc. for $3.1 billion, and Microsoft snapped up another such company, aQuantive Inc., for $6 billion. A June study by New York research firm eMarketer Inc. estimated that spending on behaviorally targeted online advertising will soar from $575 million this year to $1 billion in 2008. Skadden partner Kenton King from the firm’s Palo Alto office led the deal for Yahoo, with help from partners Marc Packer, David Hansen, Paul Oosterhuis, Moshe Kushman and Michael Lawson; counsel Razzak, Eric Sensenbrenner and Kristen Major; and associates M. Oren Epstein, S. Anita Sinha, Melissa Schmelzer, Trevor Katende, Aaron Feinberg, Samuel Krause, David McFarlane, Anna Chen and Stacy Kray. From Wilson Sonsini, partners Robert Ishii and Mark Baudler led the BlueLithium team.

Jessie Seyfer

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.