And the Yahoo acquisition spree continues….
Following Yahoo’s acquisitions of Summly, Tumblr, and most recently, GhostBird Software and startups Qwiki Inc. and Bignoggins Productions, Yahoo is supposedly now moving forward with an estimated $70 million acquisition of Xobni Corp., a developer of contact-management software.
“It’s impossible to know which acquisition will pay off, so better for Yahoo to make many acquisitions,” Brian Wieser, an analyst at Pivotal Research Group LLC, tells Bloomberg.
Most of Xobni’s services will continue functioning normally through July 2, 2014, the company said on its website. Xobni CEO Jeff Bonforte, a former Yahoo executive, has moved to the company’s Sunnyvale headquarters along with his team.
Although Yahoo continues to surprise some with its selection of companies to acquire, Yahoo has definitely shifted to a mobile-first focus. As a result, Yahoo CEO Marissa Mayer reportedly wants to cultivate an array of daily apps and services to “reinvigorate its offerings.”