• Most Popular
  • Most Shared

RPT-Yahoo to acquire business software maker Zimbra

Mon Sep 17, 2007 4:15pm EDT

Stocks

   

(Repeats without changes to text to cover additional headlines)

Mergers & Acquisitions

SAN FRANCISCO, Sept 17 (Reuters) - Yahoo Inc (YHOO.O) said on Monday it will pay $350 million in a cash and stock deal to acquire Zimbra, makers of "open source" e-mail and collaboration software that is an alternative to Microsoft Outlook.

The deal puts Yahoo into more direct competition with both Microsoft Corp (MSFT.O) and Google Inc (GOOG.O) in the market for Web-based collaboration software used by both businesses and consumers.

Zimbra counts a variety of customers in higher education and among Fortune 1000 enterprises, particularly in the financial services, retail, and manufacturing sectors, according to its Web site.

The deal largely consists of cash said Brad Garlinghouse, senior vice president of communications and communities at Yahoo.

Zimbra is a San Mateo, California-based company backed by Silicon Valley venture firms Benchmark Partners, Redpoint Ventures and Accel Capital. (Reporting by Eric Auchard in San Francisco)

Mergers & Acquisitions


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets