Yahoo snaps up Indian startup Bookpad for cloud editing
Bookpad allows developers to integrate popular file and image formats into their platforms for editing online.
Yahoo has acquired Bookpad, an India-based startup, for an undisclosed sum.
The news arrived Monday, but reports out of India conflict over the actual price the Web giant paid. The Economic Times claims Yahoo paid $8.3 million for Bookpad, while the Times of India reports the deal was closer to $15 million.
A 1-year-old startup, Bookpad provides cloud-based services for developers to integrate editing and hosting of files into their applications. The company's main platform, Docspad, allows developers to integrate a wide range of documents to edit in an app, including Word, Powerpoint, Excel, and PDF, among others.
It's not immediately clear what Yahoo has planned for the company, but other prominent Internet firms were reportedly interested in Bookpad. According to the Economic Times, Autodesk and Dropbox were also considered an acquisition bid before Yahoo swopped in.
CNET has contacted Yahoo for comment. We will update this story when we have more information.
(Via ZDNet)