Yahoo Announces Acquisition of Stamped

Yahoo is back in the business of buying companies.

This week, the Internet search titan confirmed its acquisition of mobile recommendations app developer Stamped. No financial terms pertaining to the deal were disclosed, however.

“When we started Stamped almost a year and a half ago,” the company says on its home page, “our goal was simple: create something that solves a problem and is truly useful, not frivolous. We were fortunate enough to connect with a passionate group of people, from investors to partners to users, who felt the same way. It’s been an incredible journey building Stamped from just an idea in our heads to a company with nine awesome people. We simply can’t thank you enough for all your support.”

According to Stamped, the company will be discontinuing the Stamped product by the end of this year.

All told, the purchase of Stamped marks Yahoo’s first acquisition since Marissa Mayer became Yahoo president and CEO last summer. But Mayer promised to develop the company’s mobile strategy while building its team of mobile-savvy talent. Clearly, the absorption of Stamped represents this commitment in action.