The rumours are over, the official FlickR blog confirms that indeed Yahoo has purchased photo-sharing application extraodinaire Flickr. This is a great move, I think, for Yahoo. Now comes the question of whether they will sit on the app like Google has done pretty much with Blogger or really intergrate and continue to innnovate. The explanation via Flickrblog

Flickr will be continuing on the path it’s on — to Flickr 1.0 and beyond. We’ll be working with a bunch of people that Totally Get Flickr and want to preserve the community and the flavor of what is here. We’re going to grow and change, but we’re in it for the long haul, with the same management and same team.

Soon, Yahoo users will be able to use their Yahoo! ID to sign into and use FlickR.