Internet company Yahoo Inc has acquired email and address book management app Xobni in a deal pegged to be priced between $30 million and $40 million.
Though Yahoo did not disclose the financial details related to its
latest acquisition, the company said it will integrate Xobni's
technology into its communications products, including the mobile and PC
versions of its email and instant messaging services.
Thirty-one of Xobni's employees, including CEO Jeff Bonforte, will be joining Yahoo.
The deal is the latest in a string of acquisitions by the internet company since Marissa Mayer became chief executive a year ago, vowing to boost traffic to Yahoo's online services and to revive the company's stagnant revenue growth.
Xobni is the company's third acquisition in as many days, as part of the strategy to revamp its online products and boost web traffic.
Yahoo had on Tuesday acquired Qwiki, a mobile app that creates mini-movies using a consumer's collection of photos and videos. On Monday, the internet company had acquired Bignoggins Productions, a mobile app to help players of fantasy sports teams.
The biggest deal under Mayer, Yahoo Inc in June completed its $1.1 billion acquisition of blogging service Tumblr.
[Source : businesstoday.intoday.in]
Though Yahoo did not disclose the financial details related to its
latest acquisition, the company said it will integrate Xobni's
technology into its communications products, including the mobile and PC
versions of its email and instant messaging services.Thirty-one of Xobni's employees, including CEO Jeff Bonforte, will be joining Yahoo.
The deal is the latest in a string of acquisitions by the internet company since Marissa Mayer became chief executive a year ago, vowing to boost traffic to Yahoo's online services and to revive the company's stagnant revenue growth.
Xobni is the company's third acquisition in as many days, as part of the strategy to revamp its online products and boost web traffic.
Yahoo had on Tuesday acquired Qwiki, a mobile app that creates mini-movies using a consumer's collection of photos and videos. On Monday, the internet company had acquired Bignoggins Productions, a mobile app to help players of fantasy sports teams.
The biggest deal under Mayer, Yahoo Inc in June completed its $1.1 billion acquisition of blogging service Tumblr.
[Source : businesstoday.intoday.in]
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