Portal and search company Yahoo! has purchased Ludicorp Research and Development Ltd., the private corporation which owns the photo sharing site Flickr.
The news was officially disclosed in a Sunday posting to the corporation's staff blog and is credited to Caterina Fake, Flickr's vice president of marketing and community. The posting announced the sale, but did not disclose details of the deal. In a report by Silicon.Com, Yahoo! spokeswoman Joanna Stevens confirmed the deal on Sunday but also did not disclose the terms. 
Both Fake and Stevens said Flickr will remain independent. Stevens added that Flickr's employees will relocate to the Yahoo! headquarters in Sunnyvale, California later this year.
Rumors of the sale have been circulating amongst bloggers for some time, though neither company would confirm or deny the rumored sale. Other rumors had Google or AOL as Flickr's probable suitor.
Flickr allows users to upload pictures from their computers, digital cameras, or camera phones to a personal website where they can display them, engage in photo blogging and create photo albums. The graphics may be licensed under a variety copyright license schemes including public domain, and photo owners can be easily contacted through the website.
Yahoo! had earlier announced Yahoo! 360°, a blogging service with sharing privileges and integration with other Yahoo! services such as internet broadcasting and instant messaging. 
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Yahoo! snaps up Flickr