Yahoo! acquires video creation and sharing app Qwiki

With Yahoo’s acquisition of Tumblr officially finalized on June 20, Yahoo CEO Marissa Mayer isn’t allowing the company to sit idle. In fact, its latest purchase has been announced this week, as Yahoo has acquired mobile picture and video sharing service Qwiki.

Qwiki allows users to turn pictures and short videos into movies, complete with filters, photo transitions, and soundtracks taken from a user’s device library. These movies, or “qwikis,” can then be shared via Facebook, Twitter or email.