Yahoo today revealed plans to roll out an entirely revamped online search advertising system this autumn, in the hope of catching global leader Google.

Developed over the last two years under the codename "Project Panama", Yahoo's technology is designed to help it close the gap with Google in the paid-search market - where advertisers pay to have their site appear at the head of a list of results when certain keywords are typed in to a search engine.

The redesign, believed to have cost tens of millions of dollars, is the first major overhaul of Yahoo's advertising system since it acquired Overture, which pioneered the paid-search concept, for $1.6 billion in 2003.

Find out more about Yahoo's big plans regarding the online advertising market at http://business.timesonline.co.uk/article/0,,9075-2170904,00.html.