Yahoo has been on a buying spree lately as the company recently acquired Snip.It, Tumblr and just earlier today, Bignoggins. The company’s buying spree continues as Yahoo has announced they have acquired iPhone video tool Qwiki.
Qwiki’s app will continue to be supported through the acquisition while its employees will begin to move to Yahoo’s New York offices from their previous Sunnyvale, California offices. It’s being reported by AllThingsD Yahoo spent up to $50 million for the startup, while the terms of the deal weren’t disclosed.
For those who may not be familiar with Qwiki, the software allows its users to create video slideshows from any combination of photos and videos stored locally on their iPhone while also being able to add music and graphical transitions. In a recent interview, Yahoo’s vice president Mike Kerns says the service may be used to enable video creation on a number of Yahoo’s websites. This could certainly make the most sense with Yahoo’s popular photo and video website, Flickr, as being able to create customized video slideshows through its service could be something its users could be interested in.