Yahoo in talks to buy iOS app maker Qwiki for $50 mn: Report

Yahoo Inc is working steadfastly on expanding its portfolio of mobile applications. Latest reports say the internet giant is in talks to buy Qwiki, another app maker, for an estimated $50 million.

Qwiki is the developer of a popular iOS app that turns photos, sound and video clips into short movies.

Yahoo CEO Marissa Mayer is believed to be on an 'acquisition spree' of startups, shutting their respective apps and diverting their engineering resources to Yahoo's expanding portfolio of mobile apps.

The company's acquisition of Qwiki will be added to Yahoo's acquisition history of startups below $100-million mark.

The internet giant's recent acquisition of Tumblr was the only exception, priced at $1 billion and a promise of running them as separate businesses,

With inputs from ANI