Internet giant Yahoo might be struggling to find its legs after a calamitous head-on collision with a hostile takeover bid from Microsoft, a near shareholder revolt, a new CEO, and belt-tightening, but that isn’t stopping the company for shopping around for new acquisitions. The company has just announced a deal to acquire the privately-held photo organizational service Xoopit. Xoopit and Yahoo already have a history: Xoopit worked with Yahoo to launch Yahoo’s “My Photos” application for Yahoo Mail—currently the most popular third party application in Yahoo Mail—and the company won Yahoo’s Open Hack Day last year.
Tag Archive: shareholder revolt
Yahoo Buys Photo Organization Site Xoopit
Microsoft Denies Further Yahoo Interest
Remember the attempt by Microsoft to take over Yahoo a few months ago? Well, it’s no longer there – or maybe it is. The company’s chief executive, Steve Ballmer, was quoted by Bloomberg News as saying that "perhaps there will be continuing opportunities" in regard to an acquisition, which was enough to make Yahoo’s stock jump 13% yesterday, according to Vnunet.
However, Microsoft’s PR department insists there’s no more mention of acquisition in the works, and sent out a press release stating:
"Our position hasn’t changed."
"Microsoft has no interest in acquiring Yahoo; there are no discussions between the companies."
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