Yahoo! reportedly eyeing up local search group Foursquare

US internet giant Yahoo! is reportedly in talks to snap up Foursquare in a deal that could value the local business search group for $900m.

According sources cited in a report by TechCrunch, the "deal is done" but details are still being ironed out.

However, at the same time other sources have told the technology news website that they have heard nothing about the takeover.

Foursquare, which has already been at the centre of Yahoo! bid speculation in the past, allows customers to search for and rate local bars, restaurants, shops and places of interest online. It also owns the popular Swarm app which allows friends to share their location and message each other.

The deal is thought to be part of chief executive Marissa Mayer's strategy to improve mobile operations at Yahoo!, adding valuation location data that Foursquare owns.

Yahoo!'s shares were down 0.1% at $5.49 by 15:07 BST on Wednesday.