Neither company has indicated just how Yahoo will fold SkyPhrase into its operations, but according to TechCrunch, the startup has in the past worked on features related to fantasy sports, one of the mainstays in Yahoo's product line. One app SkyPhrase has developed makes it easier for fantasy football users to search through relevant stats.
This is only the latest in a long string of acquisitions that Yahoo CEO Marissa Mayer has made since taking the helm in July 2012. Mayer has trumpeted a mobile-first ethos, while saying that the company wants to make more investments in search. The acquisition of SkyPhrase, which was backed by Peter Thiel through his investment arm Breakout Labs, would likely play into those efforts.