Yahoo was founded by Jerry Yang and David Filo in January 1994 and was an early pioneer in the dotcom boom, but was quickly overhauled by Google and others. In 2008, it rejected a US$44.6 billion bid from Microsoft, and subsequently Yahoo’s market capitalisation slipped to just US$22.24 billion just three years later.
Yahoo-Tumblr is among top 10 tech deals in 2013
Yahoo has agreed to pay USUS$1.1 billion to buy blogging forum Tumblr, ranking it in among the top 10 tech deals announced this year, according to research firm Dealogic. Here’s a list of the top 10 tech mergers and acquisitions this year. Valuation is based on Dealogic’s criteria and includes debt:
1. Dell, to Silver Lake Management (original bid), Feb. 5, this year, US$20.7 billion for 85 per cent of company;
2. Dell, to Icahn Enterprises and Southeastern Asset Management (competing bid), March 25, this year, US$18.9 billion for 87 per cent of company;
3. BMC Software, to Bain Capital Partners and others, May 6, this year, US$7.2 billion;
4. Acme Packet, to Oracle, Feb. 4, this year, US$2 billion;
5. Allflex Holdings, to BC Partners, May 3, this year, US$1.3 billion;
6. BGC Partners (eSpeed platform), to NASDAQ OMX Group Inc., April 1, this year, US$1.2 billion;
7. Tumblr, to Yahoo, May 20, this year, US$1.1 billion;
7. (tie) CompuCom Systems to Thomas H Lee Partners, April 8, this year, US$1.1 billion;
9. Power-One, to ABB, April 22, this year, US$1.03 billion;
10. Open Solutions, to Fiserv, Jan. 14, this year, US$1.02 billion.