Yahoo today announced the company has signed a definitive agreement to acquire Dapper (www.dapper.net), a technology platform providing dynamic display ad creation and optimization.

Dapper enables advertisers and agencies to quickly build dynamic ad creative, leveraging data to automatically show the right product, offer, or message with each impression. Dapper's capabilities combined with Yahoo's consumer insights will further enhance Yahoo's ability to deliver customized and relevant advertising.

The acquisition will accelerate the adoption of Yahoo Smart Ads. Yahoo currently partners with Dapper, along with others in this space, and owning this technology will help the company deliver innovative solutions to an even broader range of advertisers and integrate dynamic ad serving into key Yahoo properties.

Dapper was founded by Eran Shir and Jon Aizen in 2006 with a vision to transform display advertising with personalized, relevant content.

Financial terms of the transaction were not disclosed. Yahoo expects to complete the acquisition in the fourth quarter of 2010.