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US: Yahoo makes first buyout since Alibaba IPO

 |  September 22, 2014

Since Yahoo made significant finds through selling its investment in Chinese e-commerce powerhouse Alibaba, rumors have swirled as to what Yahoo would do with the money.

While no major buyouts have been made as of yet, Yahoo has reportedly acquired India-based Bookpad, which offers cloud-based document hosting for web developers.

The takeover was made for about $8.3 million, reports say, though some media say the deal was likely struck for closer to $15 million.

Acquisition talks reportedly first began in May of 2013. With the takeover deal agreed on, reports say Bookpad staff will now move to Silicon Valley.

The company is only one year old, say reports.

Neither company has officially confirmed the news, however.

Full content: ZDNet

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