Updated: Yahoo has confirmed purchase of Flurry and story has been updated to include a Flurry's statement on the deal.
NEW YORK (TheStreet) -- Yahoo (YHOO) will reportedly acquire mobile analytics and ad platform company Flurry in a deal that is said to be in the hundreds of millions of dollars, sources told Re/code on Monday.
Yahoo shares are down -0.21% to $33.21 in after-hours trading today.
Flurry released a statement Monday afternoon stating, "Our combined scale will accelerate revenue growth for thousands of developers and publishers across the mobile ecosystem. Our combined offerings will enable more effective mobile advertising solutions for brands seeking to reach their audiences and gain unique insights across desktop and mobile.Our combined scale will accelerate revenue growth for thousands of developers and publishers across the mobile ecosystem."
TheStreet Ratings team rates YAHOO INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate YAHOO INC (YHOO) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."