Yahoo to acquire Tumblr in $1.1 billion cash deal

That cat's out of the bag a day early, it seems. Yahoo's board has approved a $1.1 billion cash deal to purchase the blogging site Tumblr, according to The Wall Street Journal. We were expecting Yahoo to announce the acquisition during tomorrow's NYC media event -- CEO Marissa Mayer may instead use the last-minute gathering to detail the company's plans for integrating the popular platform.

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Source: Wall Street Journal (Twitter)

Source: http://www.engadget.com/2013/05/19/yahoo-to-acquire-tumblr/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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