MUMBAI: Video chat start-up OnTheAir has been acquired by Yahoo! The former made the announcement on its website. The financials of the deal have not been disclosed, though according to media reports, the acquisition has been made with the aim of acquiring more talent into Yahoo.

Earlier this year in October, Yahoo acquired an app called Stamped that lets people keep track of and recommend things like restaurants and books. The app though is slated to be pulled out by the end of 2012. It was the first acquisition by Yahoo after Marisa Mayer took over as CEO.

In the announcement posted on OnTheAir website, the team wrote, “When we started OnTheAir, we had dreams of building a company that made a difference in the daily lives of millions...Despite the challenges, our experience has been a rewarding one."
 
"We got to launch multiple products to a wonderful community. We were coached and mentored by some of the brightest investors and advisors in Technology...While we haven’t yet attained our dream of building a widespread daily use product, we are just as committed to it. And this is why we’re so excited to be joining Yahoo!. When we first met with the team at Yahoo!, it was clear that everybody there is committed to making mobile products the backbone for the world’s daily habits. All in all, it’s a fascinating time to be joining Yahoo!”