Beijing—Focus Media, China’s largest overseas listed advertising firm, has acquired online advertising service firm Allyes for US$300 million, comprising US$70 million in cash and nearly 20 million newly issued Focus shares. Allyes, a provider of Internet advertising technology that allows advertisers to control creative production, tracking, targeting and performance analysis, will become a subsidiary of Focus Media. Shanghai-based Focus Media expects total revenues this year to hit $390 million-$400 million, nearly double last year, the company said in a statement reported by Shanghai Daily. Focus Media runs thousands of flat-screen TVs displaying advertisements in stores, offices, theatres and apartment buildings.