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Yahoo! Buys Rockmelt

NEW YORK ( TheStreet) -- Yahoo!'s (YHOO - Get Report) Marissa Mayer sure does know how to spend a buck or two. The Internet giant just announced it acquired Rockmelt, its latest acqui-hire.

Rockmelt, which was built to try and reinvent the way users scour the Web using social networking features, will have its apps and Web services shutdown at the end of the month, Aug. 31.

This is the latest acquisition in a slew of purchases Mayer and Yahoo! have made this year, as the company seeks to reshape its mobile services, and Mayer's strategy for Yahoo! becomes clearer with each passing day.

From the company's blog post, announcing the deal:

We're excited to tell you that Rockmelt has been acquired by Yahoo!.

Yahoo! and Rockmelt share a common goal: To help people discover the best content from around the web. In our short four and a half years at Rockmelt, we've learned a lot about how you like to browse the web, discover...

We're excited to announce that Yahoo! has acquired Rockmelt!

Rockmelt was designed to make sense of the Internet. The team has built a simple and beautiful technology that combines social, personalization and discovery to help you not only find what you're looking for, but also stumble across some cool stuff along the way.

The parallels between Yahoo! and Rockmelt are obvious: we share a common goal to help people discover the best personalized content from around the web. We can't wait to integrate the Rockmelt technology into our platform as we work to deliver the best experiences to our users in new and exciting ways.

Yahoo! shares were lower on the day, off 0.79% to $27.74.

-- Written by Chris Ciaccia in New York

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