Yahoo Is Looking to Buy Tomfoolery [WSJ]

According to several sources, the two have already settled on a price

  Yahoo is looking to make a new purchase
Yahoo is reportedly looking to buy yet another company, this time setting its eyes on Tomfoolery, a company that develops apps for enterprise users.

Yahoo is reportedly looking to buy yet another company, this time setting its eyes on Tomfoolery, a company that develops apps for enterprise users.

According to the Wall Street Journal, the discussions are currently quite advanced and the acquisition price has already been set at $16 million (€11.7 million).

When the process is complete, one key former Yahoo employee will be returning to the company. Kakul Srivastava, Tomfoolery CEO, worked for the Internet giant for seven years on projects such as Flickr, Yahoo Messenger and Yahoo Mail. She left in 2011.

The company has built several products, but perhaps the best-known one is Anchor, which is a social network for organizing and communicating in team.

It is yet unclear if the service will remain open following Yahoo’s acquisition or if, as many other companies that have been bought by the Internet giant, it’s going to be shut down within a few months.

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