Even after buying several companies in an extended shopping spree Yahoo has not had enough and the popular website has now added another company to its growing portfolio. The name of that newly acquired company is IQ Engines and it will join the Flickr team of Yahoo. IQ Engines actually offers image recognition services and now its team will work with Flickr dividion of Yahoo in order to bolster the service. Although, IQ Engines has officially made it known through a posting on its site that it has been acquired by Yahoo, the company did not reveal the amount that Marisa Mayer’s company paid to finalise this deal.
However, IQ Engines did made it known that according to the terms of the deal it has to close down its sign-ups, while its API will also be shut down in the next 30 days. Prior to this, Yahoo has got hold of companies like Tumblr, Qwiki, GoPollGo, Bignoggins, Summly, Astrid and Rockmelt. Since Yahoo is not buying same kind of companies therefore it is hard to make a guess what Marisa Mayers and her team is actually up to. Best guess is that Marisa and company are looking to diversify the business of Yahoo in order to further boost its revenue by giving its more divisions.
Below is the post that IQ Engines has made over its site and it will give you further details regarding the acquisition:
“We are thrilled to announce that IQ Engines is joining the Flickr team at Yahoo!. As longtime Flickr fans and fellow photography enthusiasts, we look forward to working on improving photo organization and search for the community.
At IQ Engines, our dream has been to transform the way people search and browse their photos by helping to process them intelligently. We are excited to take things to a global level with one of the most widely used photo services in the world.
We want to thank you for your support and for all the creative ways you’ve put image recognition to use in your products. As of today we are no longer registering new customers. If you already have an account you may continue to use the API for 30 days.”
Let’s see what new this latest acquisition of Yahoo will bring to the company and how beneficial it will remain for the Flickr team, but to know all this we have to wait a little.
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