Yahoo to acquire Tumblr for $1.1 billion cash

(Reuters) - Yahoo Inc will buy online blogging service Tumblr for $1.1 billion in cash, the company said on Monday. The deal, which will use about one-fifth of Yahoo's $5.4 billion in cash and marketable securities, is the largest by far since Yahoo Chief Executive Marissa Mayer took the reins in July in order to reverse a multi-year decline in Yahoo's business and its Web traffic. (Reporting By Alexei Oreskovic; Writing by Ben Berkowitz; Editing by Gerald E. McCormick)

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