Yahoo has acquired social Web browser Rockmelt. It continues to snap up engineering talent and technology at a torrid pace to enhance its online and mobile offerings.
Terms of the deal were not disclosed, but the purchase price was between $50 million and $80 million, according to Reuters, citing a source close to the situation. Yahoo plans to shut down the existing Rockmelt product in 30 days and integrate the technology into its own media platform “to deliver the best experiences to our users in new and exciting ways,” according to a company blog post today.
Launched in 2010, Rockmelt allows users keep up with activity across social platforms -- including Facebook, Twitter and YouTube -- directly within the browser. But it never gained the uptake needed to seriously challenge the dominant browsers, like Internet Explorer and Firefox. The company now only offers a mobile version of its product.
Rockmelt is Yahoo's 21st acquisition under CEO Marissa Mayer, following deals for mobile video app Qwiki and fantasy sports app Bignoggins just last month, and Tumblr (at $1.1 billion) in May.
The buying spree, however, has yet to help restore growth at Yahoo, with reported flat revenue again in the second quarter.