Yahoo! is likely to buy its way into social networking, and it accepts that Google has won the search game.

Ari Balogh, Yahoo's chief technology officer, told Reuters Global Technology Summit: "I can guarantee you there will be some acquisitions, and we will do some stuff in-house." He said now was a good time to buy because valuations are low.

He said that Google had won the search contest: “Search the way we know it, with 10 blue links, Google has clearly won that game. Saying anything other than that is just not stating the fact."

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