Yahoo! Continues Acquisitions Spree With Xobni and 2 Other Hot Stocks to Watch
Yahoo! (NASDAQ:YHOO): Current price $25.72
Knowledgeable sources report that Yahoo! paid around $70 million for Xobni Corp., which develops contact-management software, while Chief Executive Marissa Mayer continues an acquisitions spree that has snapped up three startups in three days. In an emailed statement on Thursday, Yahoo! said that Xobni’s tools for locating and storing phone numbers and addresses will be included in its mail and messaging products. The purchase price includes incentive-based compensation for Xobni shareholders, according to the sources. The Xobni buyout follows Mayer’s acquisitions earlier this week of the startups Qwiki and Bignoggins Productions, as she adds talent and tech by buying teams of software engineers.