Yahoo has arrived at a definitive agreement to acquire Interclick, a provider of targeted advertising services, for about £168 million.

The platform from Interclick has been optimised to work with large data volumes across multiple providers and marketplaces, Yahoo announced yesterday.

Interclick in New York was founded in 2006 and was listed on the Nasdaq stock exchange in 2009.

Yahoo is itself rumoured to be a target for acquisition. The company is meanwhile on the lookout for a new CEO. Tim Morse, Yahoo's chief financial officer has been the interim CEO after the company ousted former CEO Carol Bartz in September.

Yahoo said it will commence an all cash tender offer for all outstanding shares of common stock of Interclick at $9.00 per share. The transaction has an estimated total equity value of approximately $270 million (£168 million).

The companies expect the tender offer to close by early 2012. The closing of the tender offer is subject to customary terms and conditions, including the tender of a number of shares which is at least a majority of the total number of outstanding Interclick common shares.

Interclick said on its website that its Open Segment Manager data valuation platform can ingest and combine limitless amount of data sources and types, regardless of format or taxonomy. OSM employs customised statistical treatments and optimisation technologies that can be applied across any display media, whether it's purchased directly, through real-time bidding, in an exchange, or in any other marketplace, it added.

OSM is coupled with Interclick's Genome, a self-service audience recommendation and planning platform; ATS 5, a proprietary ad serving platform; VTS, a video serving platform, and its Marshall reporting and analytics platform.