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It appears Yahoo! Inc.'s Jerry Yang is aiming for a complete overhaul of the company he co-founded by the time his first 100 days as CEO are over next month. Yahoo! is making its second large acquisition in the past few weeks, this time agreeing to buy e-mail software maker Zimbra Inc. for $350 million

Zimbra is backed by venture capital firms Benchmark Partners, Redpoint Ventures and Accel Capital. The backers invested $30.5 million in three rounds of funding.

"Our industry-leading communications products, including Yahoo! Mail, are critical to the future growth and success of Yahoo!," says CEO Jerry Yang. He's putting the firm's money where his mouth is. Yang has been a busy dealmaker as of late, agreeing to acquire BlueLithium Inc. for $300 million in cash and, in May, buying online ad exchange Right Media Inc. for $680 million in cash and stock. -- Basdeo Hiralal and David Shabelman

 

See Sept. 17 press release from Yahoo!

See Sept. 5 story from TheDeal.com

 

 

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