Yahoo! poised to announce Tumblr acquisition

Board set to vote on $1.1 billion transaction
Yahoo! poised to announce Tumblr acquisition


Yahoo! Inc, which is in talks to buy blogging and image repository host Tumblr, is due to hold a board meeting today to vote on the acquisition, tech news site AllThingsD reported.

If the board votes to push through with the purchase, the $1.1bn transaction will be CEO Marissa Mayer's largest deal since taking the reins of the once-vibrant Internet services company.

Former Google executive Mayer, the youngest CEO in the Fortune 500 list of companies, has been tasked with revitalising a flagging enterprise and has chosen to do so by putting mobile technologies and services at the centre of Yahoo's offerings. Tumblr claims to host 108m blogs that have 50.7bn posts between them. The service also hosts a sizeable number of images and its user base represents the kind of youthful demographic that Mayer is keen to target.

The result of the board vote may be announced as soon as tomorrow, as Yahoo has invited media representatives to an event in New York to announce something "special".

Editor's Choice

Emerson expands analytics platform for industrial enterprise-level wireless infrastructure management
Plantweb Insight platform adds two new Pervasive Sensing applications that manage wireless networks more efficiently with a singular interface to the enterprise
Digitalisation seen as a competitive advantage by Middle East private businesses
Nearly 80 per cent of private business leaders acknowledge that digitalisation can impact business sustainability
Etisalat introduces Multi-Access Edge Computing architecture delivering best-in-class video streaming performance for 5G networks
MEC architecture achieves performance gains of as much as 90% in video streaming, validating how ultra-low-latency applications will be delivered over 4G and 5G networks

Most popular

Don't Miss a Story