Yahoo! has announced it is acquiring blog information company BuzzTracker.The site currently tracks over 1,000 different news topics across the world and its takeover by Yahoo! is seen by many as a move to expand the search engine's internet advertising model in its ongoing quest to catch-up with rival Google.
Although neither company revealed the financial terms of the agreement, TechWhack.com reports that market sources believe Yahoo! to have paid close to $5 million.
Under the deal, former publisher at BuzzTracker Alan Warms is set to join the search engine as vice president and general manager of Yahoo! News.
Mr Warms commented: "Yahoo! News is the leader in online news - the number one player according to both ComScore and HitWise and I am extremely excited to come aboard as General Manager."
He added that he is looking forward to extending Yahoo!'s leadership position and contributing to its commitment to bring together the best content from across the internet.
Head of News & Information at Yahoo! Scott Moore stated: "Alan has both fantastic editorial judgment and a strong business sense - a boon to both our users and advertisers."
"BuzzTracker technology will help improve the breadth and relevancy of our content - regardless of the source," he added.
Mr Moore also said that, along with Mt Warms, Yahoo! will "bring organisation" to the many conversations occurring across the internet.
BuzzTracker was established in 2002 and now covers over 90,000 blogs.
