WSJ report: Yahoo confirms acquisition of Xoopit

Yahoo, Google According to The Wall Street Journal's (WSJ) Tuesday reports, web giant Yahoo has confirmed that it is in "final stage negotiations" pertaining to the acquisition of Xoopit - a San Francisco-based startup, whose original product was a Firefox add-on for Google's Gmail.

Though the financial terms of the acquisition deal remained undisclosed, the WSJ report put the price tag at nearly $20 million.

Xoopit - which helps people share content from their inboxes with social-networking sites like Facebbok - has already had a tie-up with Yahoo for incorporating its tools in the Yahoo Mail service's most recent edition.

Talking about the Xoopit acquisition on the company blog, Yahoo's Senior VP Bryan Lamkin said that with Xoopit's singualr tools for mining and redistributing photos, videos, and other piled up files in web-based email clients, Yahoo intends adding new photo features to Yahoo Mail.

Lamkin said in the blog post: "Yahoo! Mail is actually home to one of the largest online photo repositories in the world. And every day, millions of you use Yahoo! Mail as your primary way to share the photos of important moments in your lives. For many, email is still best for sharing photos among a more select group of friends or family. And now we're making it all that much easier for you."