US: LinkedIn, Yahoo announce takeover targets

LinkedIn announced Tuesday that it has reached an agreement to acquire Bizo, an advertisement technology conglomerate aimed at professionals.

According to reports, LinkedIn will spend $176 million on the acquisition, 90 percent of which will be paid in cash. The companies said they expect to finalize the deal in the third quarter of this year.

The takeover news follows just one day after Yahoo announced plans to take over Flurry, which provides mobile application and mobile advertisement development services.

That deal emerged after an unnamed source said Yahoo is set to pay between $200 million and $300 million for the company, though some reports say the price tag could top $1 billion.

Full content: SFGate

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