Yahoo! (YHOO) Acquires Potential Google Now (GOOG) Competitor

NEW YORK (TheStreet) -- Startup Incredible Labs announced on Thursday that it was acquired by Yahoo! (YHOO).

Yahoo! gained 1.2% to close at $35.31.

Incredible Labs is best known for its personal assistant app Donna. The personal assistant app has features similar to Google's (GOOG) Google Now service. The app helps users get to appointments on time by providing them with traffic information when they're about to leave, or should be leaving for a meeting. It can also email a user's contacts when they're running late to those meetings.

The Donna app was previously available in Apple's (AAPL) App Store, but is no longer available.

In a blog post Incredible Labs CEO (and former Yahoo! employee) Kevin Cheng said "We're looking forward to the possibilities that will come from bringing the Donna vision-letting technology take care of you-to Yahoo. Upon closing, our team will be joining Yahoo and working with some incredibly talented people, or in the case of some of us, returning to a company we know and love."

TheStreet Ratings team rates YAHOO INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate YAHOO INC (YHOO) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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