Yahoo Inc said that it will purchase Qwiki Inc, a mobile app for creating videos in Apple Inc's iPhone, as it tries to increase its presence in the world of smartphones and tablets. The company paid about $50 million for the deal, tech blog AllThingsD cited sources as saying. Terms of the deal however were not disclosed.This is Yahoo's third acquisition since May when it bought blogging service Tumblr for $1.1 billion in cash. Earlier this week, the company reportedly acquired Bignoggins Productions, another mobile app developer.Yahoo has seen its revenue shrink in recent years in the face of competition from Google Inc and Facebook Inc , but since she took charge in 2012 CEO Marissa Mayer has tried to turn the tide through a string of acquisitions.Qwiki's app would continue to be supported by Yahoo and its employees would move to Yahoo's New York offices.
Facebook, Inc. (Facebook), is engaged in building products to create utility for users, developers, and advertisers. Shares of FB fell by 1.61% or $-0.4/share to $24.41. In the past year, the shares have traded as low as $17.55 and as high as $45.00. On average, 45116100 shares of FB exchange hands on a given day and today's volume is recorded at 18394008.
Google Inc. (Google) is a global technology company focused on improving the ways people connect with information. Shares of GOOG fell by 0.63% or $-5.57/share to $882.31. In the past year, the shares have traded as low as $556.52 and as high as $920.60. On average, 2320560 shares of GOOG exchange hands on a given day and today's volume is recorded at 1891812.
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