Techno-News Blog

May 25, 2013

Yahoo ‘to buy Tumblr for $1.1bn’

Filed under: Uncategorized — admin @ 12:35 am

by the BBC

Yahoo’s board has approved a deal to buy New York-based blogging service Tumblr for $1.1bn (£725m), US media reports say. The acquisition is expected to be announced as early as Monday. The deal was a “foregone conclusion” and was unanimously voted for by the board, tech blog AllThingsD reported, citing sources close to the matter. If confirmed, it will be CEO Marissa Mayer’s largest deal since taking the helm of Yahoo in July 2012. Neither Yahoo nor Tumblr responded immediately to requests for comment. Under the terms of the acquisition, Tumblr would continue to operate as an independent business, the Wall Street Journal said, citing unnamed sources familiar with the situation.

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