Yahoo’s buys iPhone video app Qwiki for a reported $50m

In its third acquisition since May, Yahoo has bought Qwiki – an app that creates slide-show like videos, combing videos, images and audio, for the Apple iPhone.

Although no official sums for the deal have been announced, tech blog AllThingsD have suggested a pricetag of between $40 and $50 million.

Announcing the acquisition in a blog post on their Tumblr – the micro blogging service bought by the company back in May for $1.1 billion – Yahoo described Qwiki as “a company that uses awesome technology to bring together pictures, music and video to capture the art of storytelling.”

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