The acquisition is expected to be completed by early 2017
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Yahoo has been shopping for buyers for some time now, and the company has finally found a taker. Wireless provider Verizon will be buying Yahoo’s operating business for all of $4.83 Billion. It was earlier reported that the company is looking to sell its core business for as much as $10 Billion, but looks like the platform’s shrinking popularity brought the price down heavily.
The deal will see Verizon acquire Yahoo’s email and brand services. In addition, the wireless provider will also get its hands on Yahoo’s Brightroll programmatic ad service, along with other analytics businesses. As per the deal, Yahoo will be merged with AoL, which was also acquired by Verizon last year. It is also expected that Yahoo will change its name once the deal closes in Q1 2017.
Announcing the deal, Yahoo CEO, Marissa Mayer wrote in a Tumblr post, “This sale is not only an important step in our plan to unlock shareholder value for Yahoo, it is also a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising, and social. As one of the largest wireless and cable companies in the world, Verizon opens the door to extensive distribution opportunities. With more than 100 million wireless customers, a shared view of the importance of mobile and video ad tech, a deep content focus through AOL, Verizon brings clear synergies to the table. And with their aggressive aims to grow global audience to 2B users and $20B in revenue within the mobile-media business by 2020, Yahoo’s products and brand will be central to achieving these goals.”
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