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Verizon buys Yahoo for $5 billion in cash

Verizon buys Yahoo

Here is another big acquisition of Internet world. Verizon, a US telecom company, is acquiring Yahoo, a US internet company for the sum of $5 billion. The whole transaction is in cash. Verizon will merge Yahoo with AOL that it bought a year back. All Yahoo’s core businesses including advertising, content, search and mobile activities will become part of AOL.

In the official release, Verizon Chairman and CEO Lowell McAdam said,

Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers. The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.

Yahoo’s stakes in Alibaba and Yahoo Japan are not part of this acquisition. With more than 1 billion active users a month, Yahoo will signify its role in making Verizon a large internet business company. As per head of Yahoo i.e. Marissa Mayer,

Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL.

Verizon plans to integrate Yahoo and AOL to form a bigger advertising and media platform that reaches billions of internet and mobile users. This will certainly boost the company as a whole and in the internet world. The deal is set to close during the first quarter of year 2017.

There are few questions regarding what Verizon plans to do with the brand name of ‘Yahoo’. Is it going to be ended? Or it will continue? These questions are yet to be answered. It will get clear in coming weeks as further stories unrolls. Previously, Microsoft tried to buy Yahoo back in 2008 for $44 billion. 😮 😮 😮

Share your thoughts on this story in comments section below!

SOURCE: Tech Crunch