Yahoo! Inc. (NASDAQ:YHOO) entered a definitive agreement to acquire Flurry, a mobile analytics startup to strengthen its mobile products. The e-mail and search company did disclose the terms of the acquisition.

Flurry helps target advertisements for consumers using analytics and monitoring the activity of more than 500,000 apps on approximately 1.4 billion mobile devices around the world.

According to Yahoo! Inc. (NASDAQ:YHOO), acquiring Flurry is a significant step to reinforce its commitment in building and supporting useful and inspiring mobile applications and monetization solutions.

The tech giant said Flurry will have resources to accelerate the delivery of platforms to help developers create better apps, reach the right users and explore new revenue opportunities. There are more than 170,000 developers using Flurry analytics.

Yahoo! Inc. (NASDAQ:YHOO) emphasized that combining its resources with Flurry’s technology will make mobile experiences better through products that are more personalized. The tech giant said its combined scale with Flurry will accelerate revenue growth for thousands of developers and publishers across the mobile ecosystem as both companies will continue to build great analytics products.

The combined company will also enable more effective mobile advertising solutions for brands aiming to reach their audiences and to gain unique insights across desktop and mobile.  At present, 8,000 publishers monetize using Flurry.

In a statement, Scott Burke, SVP of Advertising Technology at Yahoo! Inc. (NASDAQ:YHOO) said, “Yahoo’s growth in mobile traffic comes from great people and great products…We want to harness our collective innovative spirit and bolster the mobile ecosystem by providing developers the analytics and monetization solutions to drive their success.”

On the other hand, Simon Kahalaf, president and CEO of Flurry said, “As part of Yahoo, Flurry will continue to serve the application developer community in the way we always have, only better. With Yahoo, we will have access to more resources to speed up the delivery of great products that can help app developers build better apps, reach the right users, and explore new revenue opportunities.”

Last week, Yahoo! Inc. (NASDAQ:YHOO) indicated in its second-quarter earnings report that its mobile usage is growing rapidly. According to the company, its mobile display and search revenue increased more than 100% year-over-year.