Verizon to acquire Yahoo!

July 28, 2016

On Monday, US telecom giant announced acquisition of  for a reported amount of US$4.83 billion (4.36 billion). Per the all-cash deal, Verizon would own only the core web business &mdash; in particular, and  would not be acquired by Verizon.

Going public in 1996, Yahoo! provided service a year later. Once having a worth of US$ 125 billion, Yahoo!'s value on Friday's closing was about $37 billion. Eight years ago, Microsoft offered US$44 billion for Yahoo!'s acquisition. The deal is expected to complete next year. Last year, Verizon gained ownership of, , and as it purchased their owner  (AOL) for US$4.4 billion. Acquisition of Yahoo! means Verizon would own micro-blogging website which was purchased by Yahoo! under ex-Google employee and Yahoo! CEO in 2013. Tumblr was formed by school dropout in 2007. Verizon would also own photo sharing site, acquired by Yahoo! in 2005.

Yahoo! received bids from the owner of as well as from  &mdash; another American telecom giant. After handing over ownership to Verizon, Yahoo! would be selling about 3,000 patents at auction.

Though Mayer has expressed she would like to remain the CEO, reported Verizon CEO Marni Walden is yet to decide the leadership team. Mayer said it was a big day for Yahoo!.

This acquisition would end Yahoo!'s 20 years as an independent company and an early-emerging company in,. The company started as "Jerry and David's Guide To The World Wide Web" in 1994, by and  based at.

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CAT:California CAT:Yahoo! CAT:Microsoft

CAT:Economy and business