Struggling US-based Internet corporation Yahoo Inc. has acquired another company. On July 3, 2013, the web portal announced that its latest purchase was email and contact management firm Xobni, which is ‘inbox’ spelled backwards. It is a service which provides users with information about people with whom they communicate.
The internet giant said that it will integrate its technology into Xobni’s communication products, including the mobile and PC versions of its email and instant messaging services. As usual, the company has not revealed for how much money it has acquired Xobni, but reports have claimed that Yahoo spent about $30 to $40 million.
Just one day earlier, Yahoo also announced the acquisition of video service Qwiki for $50 million. On the other hand, Xobni seems to be pleased it was bought, as it is a few millions richer now. In a blog post, the company wrote, “It’s a big day here at Xobni. We’ve been acquired by Yahoo! At this moment, we’re unpacking our boxes from San Francisco and settling in to the new Sunnyvale space at Yahoo HQ.”
The company also said that it will continue providing its services to existing users until 2014, but the firm is no longer allowing new app downloads.
