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Yahoo Acquires Xobni

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Internet giant Yahoo! Inc. (YHOO: Quote) recently announced the acquisition of email and address book management firm Xobni.

Financial details of the deal were not disclosed, but technology blog AllThingsD reported that Yahoo! paid $30 million to $40 million for Xobni, citing numerous sources close to the company.

"Did you ever meet someone who truly "gets" you? That's how we feel about Yahoo!. The power within every Xobni product is that it responds to how you communicate, Xobni said in a blog post while revealing the acquisition.

Xobni was founded in March 2006 by Adam Smith and Matt Brezina.

The deal is the latest in a series of acquisitions made by Yahoo since Marissa Mayer took over the reins of the company a year ago. Earlier this week, Yahoo said that it has acquired Qwiki Inc., a New York-based startup that makes a mobile app for creating videos on Apple Inc.'s (AAPL) iPhones. In June, Yahoo closed its $1.1 billion acquisition of New York-based social media network Tumblr

Under Mayer, Yahoo has also made a number of small acquisitions of apps and mobile startups such as Summly, Astrid, GoPollGo, MileWise and Loki Studios. The company recently acquired photography apps developer GhostBird Software.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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