SUNNYVALE, Calif. — Yahoo Inc. has completed its $1.1 billion acquisition of the online blogging forum Tumblr.
The move represents Yahoo chief executive Marissa Mayer’s boldest move since she left Google Inc. a little less than a year ago to lead Yahoo’s comeback.
It also marks Yahoo’s most expensive acquisition since the company bought the online search engine Overture for $1.3 billion 10 years ago.
Mayer is betting that Tumblr, a six-year-old service started by high school dropout David Karp, will help Yahoo bring in more traffic and advertisers on smartphones and tablets.
Under the terms announced in May, Tumblr will remain independently operated, and Karp will continue to be CEO.