SUNNYVALE, Calif., May 20 (UPI) -- Yahoo! Inc. was to announce as soon as Monday it agreed to buy U.S. microblogging, social-networking website Tumblr for $1.1 billion, several news outlets said.
The 19-year-old Sunnyvale, Calif., Internet pioneer that has been struggling to remain relevant and the 7-year-old New York startup started serious talks last week, culminating in the Yahoo! board's vote to approve the all-cash deal Sunday morning, The New York Times said.