US telecoms giant Verizon has reached an agreement with Yahoo to buy the company's Internet business for $ 350 million less than initially agreed. The dubious ones had been put in the original agreement after it was known that Yahoo had been hit by two massive cyber attacks.
Following the price cut, Verizon said it was now buying Yahoo's business for around $ 4.48bn. The new Yahoo and Verizon deal will split the cost of some claims arising from data breches. Verizon wants to combine the search for Yahoo,, as well as its advertising technology tools, with its AOL unit. Verizon bought AOL in 2015 for $ 4.4 billion.
Verizon EVP of Product Innovation and New Business Marni Walden says the telecommunications company "has always believed that this acquisition makes strategic sense. We look forward to moving forward quickly so that we can quickly welcome Yahoo's tremendous talent and assets in our portfolio. Expansion in the digital advertising space ".
Verizon already owns AOL. Yahoo will add more than 1 billion users, including at least 600 million mobile phones. Yahoo hacking reports led Verizon to wonder whether the asset quality The Internet company said last month that "it is working quickly to close the transaction as soon as possible In the second quarter," of its original plan to conclude the Agreement - originally set at $ 4.8 billion - by the end of March.Verizon sought to reduce the price of its deal in July after Yahoo revealed hacking incidents. They suggested that the assets could have more serious problems than the telecommunications company realized, and that could be left with huge and unexpected bills.
Following the price cut, Verizon said it was now buying Yahoo's business for around $ 4.48bn. The new Yahoo and Verizon deal will split the cost of some claims arising from data breches. Verizon wants to combine the search for Yahoo,, as well as its advertising technology tools, with its AOL unit. Verizon bought AOL in 2015 for $ 4.4 billion.
The sale "will accelerate Yahoo's operating business, especially in mobile, while effectively separating our holdings from Asian assets," said executive counselor Marissa Mayer. "It's an important step to unlock value for Yahoo shareholders, and now we can move forward with confidence and certainty."
Verizon EVP of Product Innovation and New Business Marni Walden says the telecommunications company "has always believed that this acquisition makes strategic sense. We look forward to moving forward quickly so that we can quickly welcome Yahoo's tremendous talent and assets in our portfolio. Expansion in the digital advertising space ".
Verizon already owns AOL. Yahoo will add more than 1 billion users, including at least 600 million mobile phones. Yahoo hacking reports led Verizon to wonder whether the asset quality The Internet company said last month that "it is working quickly to close the transaction as soon as possible In the second quarter," of its original plan to conclude the Agreement - originally set at $ 4.8 billion - by the end of March.Verizon sought to reduce the price of its deal in July after Yahoo revealed hacking incidents. They suggested that the assets could have more serious problems than the telecommunications company realized, and that could be left with huge and unexpected bills.
