This story has been updated.
Yahoo has agreed to buy Flurry, a mobile app analytics service, the two companies announced late Monday.
Terms of the deal were not disclosed, but an earlier report in Re/code said the price tag would likely be in the "hundreds of millions" of dollars. If true, that would make this one of Yahoo's biggest acquisitions under CEO Marissa Mayer.
Flurry was founded in 2005 and works with developers and marketers to "optimize the mobile experience through better apps and more personalized ads." It has received more than $60 million in funding to date and works with more than 500,000 apps.
"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," Scott Burke, SVP of advertising technology at Yahoo, wrote in a post announcing the deal. "Our users will benefit from app experiences that are more personalized and inspiring."
Flurry will continue to operate as a standalone service with Yahoo's backing.
"We have accomplished a lot on our own, but joined with Yahoo we are in an even better position to achieve our goals," Simon Khalaf, CEO of Flurry, wrote in a separate post.
Since Mayer took over as CEO of Yahoo two years ago, the company has acquired 40 startups, many of which were acqui-hires to help Yahoo bolster its mobile products. Flurry's app data and business relationships could help as Yahoo plays catch up in the mobile and marketing spaces.