Yahoo launches new advertising system in Europe

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Yahoo has announced the UK and European launch of its new sponsored search advertising platform, known as project Panama.

Panama offers advertisers improvements such as the ability to rotate different ads through the system to find the most effective ad mix, ad budgeting based on desired advertising outcomes and a way to test different keyword search terms for advertising effectiveness and geographic targeting.

The search marketing software system, known by its code name "Panama," has been available since October last year to existing Yahoo customers in the US, and was expanded to new US customers in December of last year.

Yahoo is counting on its upgraded system to help the company close the advertising effectiveness gap with rival Google, as well as combat Microsoft following its $6 billion acquisiton of aQuantive.

"This new advertising technology marks a key turning point in our efforts to deliver additional value for advertisers and a more relevant experience for users" said Richard Firminger, Yahoo's regional search marketing sales director for Northern Europe.

The European launch of Panama is the first major upgrade of its European ad operations since Yahoo acquired its existing search ad system from Overture in 2003. Delays in introducing the system were the primary contributor to a 32 per cent decline in Yahoo stock last year.

The company will move customers from its current system to the new platform through a phased rollout across the remainder of 2007.

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