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Yahoo! eyes social media acquisitions

To revamp its product suite and expand its social media presence

By CBR Staff Writer

Till now, there have been news about Yahoo being acquired by Microsoft. But recent reports indicate that Yahoo itself is looking to acquire companies that will enable it to revamp its product suite and expand its social networking offerings.

Ari Balogh, chief technology officer of Yahoo, said at Reuters global technology summit: It’s a good time to be buying now. I can guarantee you there will be some acquisitions and we will do some stuff in-house.”

Balogh said: The thing I will tell you is that, core to great experiences for people online may not necessarily be this version of search. I believe search is going to be far richer, there’s a whole other round or two to go in the search game and that’s where we intend on playing.”

Reuters has reported that Yahoo will introduce new products this fall that are expected to give users a more unified experience across its network of websites. Meanwhile, reports state that talks continue between Yahoo CEO Carol Bartz and Microsoft CEO Steve Ballmer, in regards to a search partnership.

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