Yahoo buys mobile app Qwiki, no terms given

NEW YORK (AP) -- Yahoo Inc. has snapped up Qwiki, a mobile app for sharing music, photos and videos, for an undisclosed sum.

Yahoo said on its Tumblr page on Tuesday that it will keep the Qwiki application running. Qwiki's employees will join Yahoo in its New York City office.

Yahoo has been on a buying spree since last fall, acquiring mostly small companies such as the London startup Summly and mobile photography app GhostBird Software. Both have been shut down since. Last month, it closed its $1.1 billion acquisition of the popular blogging forum Tumblr. Like with Qwiki, Yahoo is keeping Tumblr alive.

The announcement came a day after Yahoo said it bought Silicon Valley startup Bignoggins Productions, known for developing a series of mobile apps for players in fantasy sports leagues. Yahoo said it isn't going to keep distributing Bignoggins apps, but will blend some of the underlying technology into its own services for playing in fantasy sports leagues. Bignoggins founder Jerry Shen is the only employee of the startup who will join Yahoo.

Shares of Yahoo climbed 1 cent to $25 in after-hours trading. The stock closed at $24.99, down 25 cents for the session but still up about 26 percent since the start of the year.