Techmeme
May 20, 2013, 8:15 AM

Top News

Robin Wauters / The Next Web:
Done deal: Yahoo acquires blogging platform Tumblr for “approximately $1.1 billion”  —  It's done.  —  As expected, Yahoo this morning announced its acquisition of blogging phenomenon Tumblr.  The Internet giant has bought the New York company for “approximately $1.1 billion”, substantially all of which will be paid in cash.
Marissa Mayer / Yahoo!:
Tumblr.  + Yahoo! = !!  —  I'm delighted to announce that we've reached an agreement to acquire Tumblr!  —  We promise not to screw it up.  Tumblr is incredibly special and has a great thing going.  We will operate Tumblr independently.  David Karp will remain CEO.
Sharif Sakr / Engadget:
The first Jolla phone: 4.5-inch display, Android app compliant, 399 euros  —  Jolla's Love Day in Helsinki has already spilled some major news: pricing and specs for its first Sailfish OS handset.  The phone seems to be called “The Other Half” — or at least that's the working title for now …
New York Times:
Chinese Hackers Resume Attacks on U.S. Targets  —  WASHINGTON — Three months after hackers working for a cyberunit of China's People's Liberation Army went silent amid evidence that they had stolen data from scores of American companies and government agencies, they appear to have resumed …
More: Gizmodo, The Verge and BBC
Kara Swisher / AllThingsD:
Yahoo Tumblrs for Cool: Board Approves $1.1 Billion Deal as Expected  —  The Yahoo board has approved a massive $1.1 billion deal to buy Tumblr.  —  Sources close to the board said the deal was a foregone conclusion and was an unanimous vote by the Silicon Valley Internet giant.
Andy / TorrentFreak:
RapidShare Fires 75% of its Staff After “Rogue Site” Revamp Bites  —  After its launch in 2004, RapidShare's speedy growth saw the company become one the largest file-hosting sites on the Internet.  —  However, like all sites of this nature, RapidShare became popular with those looking to store copyright-infringing material.
Ian Sherr / Wall Street Journal:
Microsoft's New Xbox Girds for a Smartphone Battle  —  Microsoft Corp. will unveil its new Xbox on Tuesday.  What's underneath the hood of the latest videogame console represents a multiyear odyssey of trying to figure out how to keep the machine “cool” in the age of smartphones and tablets.

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