Tag: technology news

The online blogging forum is now being purchased by the search engine giant in a recovery effort.

Yahoo! has announced in its latest technology news that it is purchasing the massively popular online blogging forum, Tumblr, for a cool $1.1 billion in order to breathe some life back into itself.

The CEO of Yahoo!, Marissa Mayer, is aiming to rejuvenate what was once the top search engine.

The company has managed to fall behind and Mayer is now making an aggressive acquisition to help to reverse this trend. The deal was first announced on Monday and is the boldest move that she has made with the company, since she left Google just under a year ago in order to lead the latest comeback effort at Yahoo! This is also the most expensive acquisition that the search engine company has made since the purchase of Overture ten years ago. That purchase made technology news headlines when Yahoo! forked over $1.3 billion in stock and cash.

This technology news will involve a payment all in cash, taking a chunk out of Yahoo’s reserves.

The company has been holding $7.6 billion in windfall, which it brought in when it sold half of its stake in Alibaba Holdings Group, the Chinese internet company. This means that the acquisition of Tumblr will take up approximately a fifth of the $5.4 billion that Yahoo! was storing in its accounts by the close of the first quarter of the year.

At the same time that Yahoo! made its acquisition technology news headlines, it also announced that the CEO of Tumblr, David Karp, would be maintaining his position “per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business.” Karp first started that company six years ago. Both businesses hope that it will soon become a central player in a massive recovery for Yahoo! to become the most influential companies on the internet once more. This is a position that it has not held in 13 years, since it was surpassed by Google – with the help of Mayer, who worked there at the time.

Even though it faced some financial setbacks, the program is still predicted to be ready in time for launch.

According to the latest reports from the Budapest Business Journal regarding the mobile payments system that is to be implemented across Hungary, it is still planning to be ready on time.

The predicted fall launch of the system is still set to be met by the creators of the national program.

Despite the fact that the mobile payments system faced issues regarding the loans that were supposed to pay for the development of the network, the creators were able to overcome the problems and still plan to meet their deadlines. This will be a considerable feat for those teams who have experienced a number of time setbacks and delays, but who are moving forward at full speed to put themselves back on track.

The mobile payments system for Hungary was first announced earlier in 2013 to be ready by fall.

The mobile payments system will be operated by Nemzeti Mobilfizetési, which is owned by the state, and which has been facing a number of sizeable funding challenges in order to cover the costs of the project. Just recently, it was denied a loan of $3.52 million (HUF 800 million) from the Public Procurement Arbitration Board in Hungary. Though these funds were believed to have been vital to its ability to continue and to complete its work on time, it still believes that it will be able to make its deadlines.

A statement that was released by Nemzeti Mobilfizetési has explained that the development that is required in order to expand the mobile payments system will be starting, as scheduled, before the end of this month, and that it will continue forward so that it will be ready for its predicted start date in September 2013.

The purpose of the Hungarian mobile payments system is to be able to create a standardized program across the entire country. It will offer this type of transaction for making purchases such as transit and transportation tickets, motorway stickers, parking fees, and other similar purchases. It is expected that the complete system will be ready to roll out between 2014 and 2017.