Dallas, Texas 07/05/2013 (Financialstrend) – Yahoo! Inc. (NASDAQ:YHOO) continues its rally dubbed by some market participants as the “Marissa rally” to emphasize the impact Marissa Mayer, the new CEO, has brought to the company. Since Mrs. Mayer joined Yahoo!, the company has completed over 15 acquisitions, giving a stock price boost of more than 50%.It seems that the Mrs. Mayer, a former Google executive and engineer, is cognizant of the technology business.
The latest acquisition of Yahoo! is Xobni, an email and address book management app.Yahoo! expects to integrate Xobni’s technology into its email and messaging services for both the mobile and pc versions. Given that the financial details are not disclosed by either party, speculation about the valuation is rife, ranging from $30 to $70 million. Incentive-based compensation for Xobni employees has been factored in the price, according to the grapevine.
Three acquisitions within three days have made the market maintain an impatient stance with regards to the next step Yahoo! is willing to make. On the first day of this week, Yahoo! bought for an undisclosed sum Bignoggins Productions, a mobile app company popular among the players of fantasy sports teams. The following day the acquisition of Qwiki took place, a mobile app that creates videos on the iPhone, for $50 million. None of these deals obviously comes close to the biggest deal of Mrs. Mayer, the acquisition of Tumblr for $1.1 billion.
The acquisitions of such startups asSummly, Jybe, Inc. & Stamped, Inc. trace a pattern of adding technologically superiortalent by incorporating brilliant engineer teams.
Yahoo! closed higher by 2.40% yesterday, at 25.59. Analysts are tracking the volume pattern, which is higher at rallies and lower at the corrections, interpreted as a bullish sign.
