Monday, September 17, 2007

Yahoo Acquires Zimbra For $350M

Sunnyvale-based Yahoo said Monday afternoon that it has agreed to acquire Zimbra, a provider of e-mail and collaboration software, for $350M. Yahoo said that the acquisition of Zimbra wil help the firm expand its presence in universities, businesses, and through ISPs. Zimbra offers an online, AJAX-based email, calendar, and contact system. According to Yahoo, Zimbra will become a wholly-owned subsidiary of Yahoo. Zimbra is venture backed by Accel Partners, Benchmark Capital, Duff Ackerman and Goodrich, Inventures Group, Presidio STX, and Redpoint Ventures.