Struggling web portal Yahoo Inc has acquired social Web browser company Rockmelt, a US start-up that built a web browser tied to Facebook’s social media network. The latest buying by Yahoo in its acquisition spree is believed to scoop up technology and engineering talent that could “bolster its mobile and social networking efforts”. The deal was announced on Friday.
Exact details of the deal were not revealed, but the purchase is estimated between $50 million and $70 million. This is Yahoo Inc’s 20th acquisition since Marissa Mayer became the company’s CEO nearly 13 months ago. Yahoo’s recent purchases have been for a relatively small bucks, except when Yahoo bought blogging service Tumblr for $1.1 billion in June.
Rockmelt was launched in 2010 with Internet browsing software incorporated with social media features, such as Facebook chat or Twitter notifications. It unveiled its Facebook-focused Web browser in late 2010, but it never gained enough of a following to challenge larger Web browsers such as Google’s Chrome and Microsoft’s Internet Explorer.
Yahoo will shut down the existing RockMelt product in 30 days and integrate the technology into Yahoo’s media platform to “deliver content in new ways”. It will also get 32 RockMelt employees as part of the deal, including CEO Eric Vishria and CTO Tim Howes.
“The team has built a simple and beautiful technology that combines social, personalization and discovery to help you not only find what you’re looking for, but also stumble across some cool stuff along the way,” Yahoo senior vice president of mobile Adam Cahan said in a blog post.
After Tumblr, Yahoo’s acquisitions include Playerscale, Ghostbird Software, Rondee, Bignoggins Productions, Qwiki, Xobni, Ztelic, Lexity and RockMelt. That amounts to a staggering 10 acquisitions in a period of just 2 months!
Filed in: Tech News