Yahoo has acquired online event-planning and social networking site Upcoming.org, which is expected to provide Yahoo with more content about local communities and bolster its local search capabilities, reports the AP. Yahoo confirmed the acquisition but did not disclose the financial terms. The site provides tools for sharing observations about local events and identifying common areas of interests.

"We think local search is about much more than being able to find a business in your community," said Paul Levine, Yahoo's general manager of local search. "There is no question that local events are an important component, too."

Both Yahoo and Google have been placing emphasis on local search as more people change the way they search, relying on the web rather than print yellow pages.