App-maker Tomfoolery next on Yahoo's acquisition list -- report

The Web giant will pay $16 million for Tomfoolery, according to a new report.

Yahoo CEO Marissa Mayer.
Yahoo CEO Marissa Mayer. James Martin/CNET

Tomfoolery, a company co-founded by former Yahoo employee Kaku Srivastava, that makes apps to improve collaboration and communication in the workplace, might soon be acquired.

Yahoo is currently in the "advanced stage" of talks with Tomfoolery to acquire the app-maker for $16 million, the Wall Street Journal reported on Tuesday, citing people who have knowledge of the discussions. The Journal's sources couldn't say whether the Tomfoolery apps would remain available or if the technology would be used internally at Yahoo.

Yahoo has been on an acquisition-spree since Marissa Mayer took over the company in 2012. Earlier this month at the Consumer Electronics Show, Mayer indicated that future acquisitions were likely. It appears Tomfoolery might be next on the list.

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