Since Microsoft announced the bid of 40-something billion dollars, Yahoo! had a pale presence in the buying field. However, today they entered the news area by announcing the agreement to purchase the Hungarian company IndexTools, an web analytics business:
...to acquire substantially all of the assets of Tensa Kft., more commonly known as IndexTools, a leading provider of Web analytics software for online marketing. The acquisition includes IndexTools' Web analytics business and technology as well as its Tensa R&D Kft. subsidiary. Upon completion of the acquisition, the addition of the IndexTools' assets is intended to expand Yahoo!'s powerful set of services designed to maximize its clients' online marketing efforts.
It's clearly a move towards creating a powerful competitor for Google Analytics, however it's not known yet when such a service (please call it Yahoo Stats and not Yahoo Analytics) will be available and if it's going to follow the same principle as Google's does (free for up to 5 million pageviews/month, Adwords account required for more than that). For starter it's going to be an improvement for Yahoo's current analytics platform for online marketing campaigns, but a separate service might be launched.
Anyway, the big news involving Yahoo! are expected for the end of this month, as Microsoft set a deadline for Yahoo to accept its $41 billion buyout offer by April 26 , warning that if a deal wasn't reached by then, Microsoft would launch a hostile takeover at a smaller attractive price. Boy, I kind of see the headlines on April 26th: "Microsoft buys Yahoo", "Microsoft crushes Yahoo", "Yahoo smashed by the 500-pound gorilla", and I could just go on. Remains to be seen.

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