The value of the deal was kept under wraps, though a number of reports have suggested it could be worth $300 million, possibly more.
Flurry, which has been operating since 2005, has its tech installed in more than half a million apps, enabling it to track user activity on over a billion handsets and tablets. Around 170,000 developers across 150 countries use its services.
Data collected by Flurry is set to provide Yahoo with vital information on the way users interact with apps, while its experience and knowledge in the ad field gives the Web company an excellent opportunity to expand its mobile ad business and pull in more revenue.
Scott Burke, Yahoo's SVP of ad technology, described the purchase as "a meaningful step" for the company, adding that it's committed "to building and supporting useful, inspiring and beautiful mobile applications and monetization solutions."
Burke said that by bringing Flurry on board, "we will make Yahoo mobile experiences better through products that are more personalized and more inspiring."
Flurry CEO Simon Khalaf said Yahoo's purchase would give his firm "access to more resources to speed up the delivery of great products that can help app developers build better apps, reach the right users for their apps and more importantly, make money from ads that look great and blend into the app experience."
He added, "We have accomplished a lot on our own, but joined with Yahoo we are in an even better position to achieve our goals."
Yahoo boss Marissa Mayer has long talked of transforming her business into a "mobile first" company, with a growing number of acquisitions pushing it toward this goal. More than half of Yahoo's total monthly audience now visits via a mobile device.
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