Tuesday, July 2, 2013

Reuters: Technology News: Yahoo buys mobile app co Qwiki

Posted by Isabella on 7:36 PM

Changes are afoot at Blogtrottr!
By popular request, we're bringing in paid plans with some cool new features (and more on the way). You can read all about it in our blog post.
Reuters: Technology News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Yahoo buys mobile app co Qwiki
Jul 3rd 2013, 00:29

  • Tweet
  • Share this
  • Email
  • Print
The Yahoo logo is shown at the company's headquarters in Sunnyvale, California April 16, 2013. REUTERS/Robert Galbraith

The Yahoo logo is shown at the company's headquarters in Sunnyvale, California April 16, 2013.

Credit: Reuters/Robert Galbraith

Tue Jul 2, 2013 8:29pm EDT

(Reuters) - Yahoo Inc said that it will buy Qwiki Inc, a mobile app for creating videos in Apple Inc's iPhone, as it tries to increase its presence in the world of smartphones and tablets.

The company paid about $50 million for the deal, tech blog AllThingsD cited sources as saying. Terms of the deal however were not disclosed.

This is Yahoo's third acquisition since May when it bought blogging service Tumblr for $1.1 billion in cash. Earlier this week, the company reportedly acquired Bignoggins Productions, another mobile app developer.

Yahoo has seen its revenue shrink in recent years in the face of competition from Google Inc and Facebook Inc, but since she took charge in 2012 CEO Marissa Mayer has tried to turn the tide through a string of acquisitions.

Qwiki's app would continue to be supported by Yahoo and its employees would move to Yahoo's New York offices.

Yahoo shares closed at $24.99 on Tuesday on the Nasdaq.

(Reporting by Avik Das in Bangalore; Editing by Stephen Coates)

  • Tweet this
  • Link this
  • Share this
  • Digg this
  • Email
  • Reprints
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/

Comments (0)

Be the first to comment on reuters.com.

Add yours using the box above.
You are receiving this email because you subscribed to this feed at blogtrottr.com.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

 
Great HTML Templates from easytemplates.com.