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Today Yahoo announced it has acquired ad giant BrightRoll for “approximately $640 million in cash” to bolster its existing video ad business.

BrightRoll will continue to operate independently “with Yahoo’s additional investment and global support.” The deal is expected to close in the first quarter of 2015.

According to Yahoo chief Marissa Mayer, this deal will turn Yahoo into “the largest” video advertising platform in the U.S. Mayer touts that BrightRoll is “expected to exceed $100 million this year” in net revenues.

More, from Mayer:

This acquisition will accelerate the growth of both companies — we can help BrightRoll scale to even more advertisers globally and they can bring their tremendous platform offering to Yahoo’s advertisers. The combination builds positive momentum for Yahoo’s broader display advertising business in 2015

News of the deal was first reported by TechCrunch, although the aquisition was originally priced slightly higher at “around $700 million.”

Brightroll competes with numerous companies in the video advertising industry, including TubeMogul and Google.

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