close
This ad will auto close in 10 seconds

Verizon buys Yahoo for $4.8 billion: 10 things to know

Internet giant Yahoo on Monday announced that it has agreed a USD 4.83 billion deal to sell its core business to US tech giant Verizon Communications.


Verizon buys Yahoo for $4.8 billion: 10 things to know

Zee Media Bureau

New Delhi: Internet giant Yahoo on Monday announced that it has agreed a USD 4.83 billion deal to sell its core business to US tech giant Verizon Communications.

Marissa Mayer, CEO of Yahoo, said in a statement: "Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL."

With the deal, a lot of changes will be seen at Yahoo including the change of its name.

 

Here are 10 things to know about the Varizon-Yahoo deal:

  • The deal ends Yahoo's 20-years of being an independent company
  • Yahoo will become a separate investment company and change its name after the transaction
  • The acquisition is expected to be closed by early 2017
  • Yahoo would be integrated into AOL unit to create a top global mobile media company
  • Post acquisition, Yahoo will fall under the aegis of the AOL unit chief, Tim Armstrong
  • The deal will not, however, include Yahoo`s cash, certain patent holdings, and its big share in China`s Alibaba Group and stake in Yahoo Japan
  • Failure to pace up with rivals such as Google and Facebook is one of the main reason for the sale of the once internet king
  • At its peak, Yahoo had a market value of over $100 billion
  • Other bidders for Yahoo included Quicken Loans founder Dan Gilbert
  • The acquisition will help Verizon build on its digital media and advertising business

From Zee News

0 Comment - Join the Discussions