Yahoo makes second major purchase this week

Yahoo has made its second major purchase in a week with the acquisition of smart email service Xobni, for a reported price of $30m to $40m.

Yahoo will be incorporating Xobni's technology into its products, while Xobni's existing products will be withdrawn from sale. Nothing will change for existing customers until 2 July 2014, but there are no details for after this date.

This follows its purchase of moviemaker app Qwiki yesterday for a reported $50m and a string of other acquisitions including fantasy sports app Bignoggins Productions.