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VentureBeat just revealed that Yahoo is just bought mobile game ad company Actionality.

Yahoo’s expanding line of mobile services already includes games, and this purchase gives Yahoo another place to sell ads. Actionality sticks ads into mobile games and other applications as they’re being downloaded from a mobile web browser to a phone; competitors include Greystripe.

I’ve been following Greystripe since their launch a few years back and love the idea of the company. Their mobile game portal GameJump is a little dark for my taste but cool none the less. I don’t know all the players in the mobile game ad business, but I know Greystripe is right up there with the best of them. It’ll be fun to watch how Greystripe does and how Yahoo is going to bring Actionality into the fold. I hope they do more of a Upcoming and Flickr style corporate take over and leave the company more or less alone.

[Update] TechCrunch has a great run down on the financial numbers behind Greystripe.