Yahoo is no stranger to mergers and acquisitions. This year alone, the company bought more than 20 companies, with Tumblr being the largest and most expensive bet. That number increases today, as Yahoo has acquired another startup called Ptch, a movie-making mobile app.
Ptch, launched a year ago, was backed by DreamWorks Animation. The social photo and video app creates movies by combining photos and videos on a user's phone. Topped with music and effects, the movie can then be shared on Facebook and Twitter.
Over its blog, Ptch confirmed the deal, saying that the company will be joining the Yahoo team to help improve the tech giant's photo and video platform (think Flickr). As expected, Ptch will shut down on January 2, 2014.
Before the door closes, users can download their "ptches" and save them on their camera rolls. "We are grateful for your support and look forward to bringing you more exciting products through the Yahoo platform in the future," the company said.