Yahoo! Inc acquired social web browser company Rockmelt, the latest move by the struggling web portal to scoop up technology and engineering talent that could bolster its mobile and social networking efforts.
Yahoo did not disclose financial terms of the deal, but a source close to the situation said the price was between $50 million and $80 million. 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," a Yahoo! spokeswoman said.
Yahoo will get 32 RockMelt employees as part of the deal, including RockMelt CEO Eric Vishria , who will become Vice President of products for Yahoo's media properties and RockMelt CTO Tim Howes, who will become Vice President of engineering for Yahoo's mobile products, according to the source.
Yahoo did not disclose financial terms of the deal, but a source close to the situation said the price was between $50 million and $80 million. 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," a Yahoo! spokeswoman said.
Yahoo will get 32 RockMelt employees as part of the deal, including RockMelt CEO Eric Vishria , who will become Vice President of products for Yahoo's media properties and RockMelt CTO Tim Howes, who will become Vice President of engineering for Yahoo's mobile products, according to the source.
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