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Verizon acquires Yahoo for $4.83 bn

Verizon acquires Yahoo for $4.83 bn

USA

After 20 years of running as an independent company, Yahoo is finally being bought by American telecoms firm, Verizon Communications.

Verizon has agreed to purchase the pioneer web and search portal for $4.83 billion in cash.

The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo

In a statement released on Monday, Yahoo CEO Marissa Mayer said “The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo” and added that she was planning to stay and see Yahoo into it’s next chapter.

However, the deal does not included Yahoo’s cash, its shares in Alibaba, its shares in Yahoo Japan, Yahoo’s convertible notes, certain minority investments and Yahoo’s non-core patents.

The deal is expected to boost Verizon’s AOL internet business which it bought last year for $4.4 billion.

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