October 3, 2013

Yahoo! adds Hitpost to technology acquisition list

Yahoo! has made one technology acquisition after another this last year, and it does not appear to be letting up anytime soon. Marissa Meyer's company is set to acquire Hitpost, according to several reports, although financial details of the deal have not yet been disclosed.

Hitpost creates sports-centric mobile apps, and sources close to the deal explained to TechCrunch that the move will help Yahoo! improve its sports offerings on iOS and Android platforms. Specifically, Hitpost has applications that support live discussions and polls on sports.

SportsBet is the company's largest application and has between 1 and 5 million installs on Google Play, according to the news source.

Hitpost released a statement on its website, saying that it was an exciting opportunity because Yahoo! is a legendary tech firm and a sports market leader.

"Teaming up with Yahoo is an exciting strategic opportunity for Hitpost to deliver our value at a larger scale, and we can't wait to get started," the statement read. "Our team of seven has joined Yahoo Sports in Sunnyvale and San Francisco, where we will be working to bring Hitpost's technology-powered engagement to Yahoo's global audience."

A contribution piece on Web Pro News said that the last Yahoo! technology acquisition with a mobile sports application—Bignoggins—led to the development of a fantasy sports application. It added that this situation will likely not be much different.

Technology mergers and acquisitions are often able to benefit all parties involved, regardless of their size. Even with Yahoo!'s prestige, it can still become stronger and improve its offerings to customers through the assistance of other companies.