As a means of boosting its Web traffic, Yahoo Inc acquired email and address book management app Xobni. The acquisition was Yahoo's third as it seeks to revamp its online products.
Yahoo said it will integrate the technology of Xobni's into its communications products. This will include mobile and PC versions of its email and instant messaging features.
Yahoo did not disclose any financial terms of agreement. However, technology blog AllThingsD said that the deal might be between US$30 million to US$40 million. Xobni employees along with its Chief Executive Officer Jeff Bonforte will join Yahoo.
Since last year, the deal is the latest inclusion in a string of acquisitions led by Marissa Mayer. Mayer became chief executive of the company and vowed to boost traffic to the online services of Yahoo. The company also seeks to revive the company's stagnant revenue growth. Last month, Yahoo acquired Tumblr for US$1.1 billion.
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