Yahoo Inc. (Nasdaq: YHOO) is buying Qwiki Inc., a mobile application that enables users to create videos on Apple Inc.’s iPhone. (Nasdaq: AAPL).
The move is yet another strategic step for Yahoo, which has become a serial acquirer in its quest to strengthen presence on smartphones, tablets and other mobile devices. This marks the twelfth deal for Yahoo since Marissa Mayer became CEO of the company in July 2012. She has led the once-struggling Sunnyvale, Calif. Internet company on a buying spree, with the $1.1 billion purchase of New York blogging service Tumblr Inc. the biggest recent deal. (For more, see “10 Startups Marissa Mayer Bought Before Tumblr.”)