Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Yahoo has tapped Overture’s former chief scientist to launch a research lab to explore new developments in web search and related technologies and marketing strategies.
Following its 2003 acquisition of web search technology company Overture Services, Yahoo Inc. has tapped Overture’s former chief scientist to launch a research lab to explore new developments in web search and related technologies and marketing strategies.
"Our mission is to help Yahoo pioneer the next wave of the online world through innovation, invention and scientific contribution," said Dr. Gary William Flake, who will head the lab. "By partnering with technology resources both inside and outside of Yahoo, we aim to cultivate knowledge and expertise, solve fundamental technology problems and translate theory into practice to help maximize the social and economic potential of the Internet for consumers and businesses." Core research areas include machine learning, statistical data mining and efficient algorithms.
Farzad Nazem, executive vice president and CTO, said the lab will be "dedicated to inventive computer science solutions that will help make the Internet experience more efficient, productive, individualized, and even more entertaining. Whether developing new algorithms or employing existing technologies in new ways, Yahoo Research Labs will partner with Yahoo`s global technology resources to accelerate our ability to both improve the quality of our existing network and introduce entirely new online products."
Dr. Flake joined Yahoo with the acquisition of Overture. Prior to joining Overture, he was a research scientist at NEC Research Institute and the leader of its web data-mining program.