Verizon Acquires Yahoo For $4.83 Bn
24 views · Published 25 July 2016 · 1:08 · Indexed 1 October 2026
Channel: The Financial Express · 2016 · News & Politics
An era in digital technology came to an end today with Verizon Communications today saying it will acquire Yahoo's operating business for about $4.83 billion in cash. The deal will see Verizon scoop up Yahoo's search, mail, content, and ad tech business. According to a statement, the sale does not include Yahoo cash, shares in Alibaba Group Holdings, shares in Yahoo Japan, Yahoo convertible notes, certain minority investments, and Yahoo non-core patents. Yahoo has a global user base of over one billion monthly active users, including 600 million monthly active mobile users, through search, communications and digital content products. When the deal closes, Yahoo will change its name and become a publicly-traded investment company.
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