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Tuesday, December 04, 2012
Yahoo Buys OnTheAir Video Chat Company

Yahoo has acquired video chat startup OnTheAir on Tuesday, as the company tries to bolster its mobile capabilities.

Yahoo did not disclose the financial terms of its acquisition of OnTheAir, but said the 5-person team would be joining Yahoo's mobile group.

OnTheAir's product lets Web users host live video conversations. However, Yahoo is not expected to use this product, at least at its current form.

Yahoo has been trying to create a coherent mobile strategy. In October, the company acquired Stamped, a mobile startup that allows consumers to share information about favorite restaurants and music on their smartphones.

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