Yahoo Buying Zimbra

Yahoo Inc. has agreed to buy Zimbra Inc., a San Mateo, Calif.-based maker of open-source email server software, for around $350 million. No other financial terms were disclosed for the deal, which is expected to close in Q4. Zimbra has raised $28.5 million since 2004, from firms like Accel Partners, Benchmark Capital, DAG Ventures, Redpoint Ventures and Presidio STX.