Yahoo did not reveal how much it paid for the application that converts videos and pictures on iPhones into sharable movie clips complete with music soundtracks.
"Have you ever listened to an old song and all of a sudden a favorite vacation, concert, or summer memory pops into your mind?" Yahoo asked rhetorically in a blog post announcing the acquisition.
"The Qwiki app automatically turns pictures and videos that you already have on your iPhone into quick, beautiful movies to share, including transitions and a soundtrack."
Yahoo! promised to continue to support the Qwiki app after the startup's team becomes part of its office in New York City.
The Qwiki announcement came a day after Yahoo! put out word that it bought Bignoggins Productions, a one-person operation specialising in fantasy sports applications for iPhones.
Yahoo! in June completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's environment.
Yahoo! has been snapping up companies since Mayer took over in July last year and vowed to revive the company, which has faded in the face of competition from Google.
Yahoo! last month bought startup GhostBird Software, which makes picture-taking applications for iPhones, to enhance its Flickr photo service.
Since Mayer took over, Yahoo! has bought Alike, Stamped, Snip.it and a Summly application built by a British teen along with PlayerScale, a startup that powers games played on smartphones, tablets, consoles or personal computers.
Yahoo! is believed to be pursuing a deal with Hulu after its bid to buy a majority stake in France-based Dailymotion was derailed in May.
Mayer's plan for reviving Yahoo!'s fortunes focuses on prioritising mobile devices, video and personalised digital content, to extend the company's popularity outside the United States.
Source: AFP via I-Net Bridge
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