What Will Yahoo Do with This Newest Acquisition?

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In yet another acquisition in Yahoo (NASDAQ:YHOO) Chief Executive Officer Marissa Mayer’s buying spree, Yahoo has purchased start-up Rockmelt to gain access to the company’s engineering talent and social browsing technology.

According to a report from All Things D, Yahoo paid between $60 and $70 million for the company. The social media-incorporating browser has struggled in the face of competition from Google (NASDAQ:GOOG) Chrome and Microsoft (NASDAQ:MSFT) Internet Explorer, after being launched to much hype in 2010.

Like many of the start-ups Yahoo has purchased recently, Rockmelt has been working to focus more closely on mobile tech, an area in which Yahoo has fallen behind rivals like Google and Facebook (NASDAQ:FB). All Things D pointed out that the acquisition isn’t exactly advantageous for investors who have poured money into Rockmelt, but it will provide Yahoo with a gifted team of researchers and engineers.┬áRockmelt founder Tim Howes will now become responsible for mobile engineering at Yahoo, and employee Eric Vishria will be Yahoo’s vice president of media products.

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