Verizon set to buy Yahoo for 4.8 billion US dollars
San Francisco: Verizon Communications is all set to buy core internet operations and land holdings of Yahoo. The deal between Verizon and Yahoo has been sealed, however the official announcement is expected to come on Monday. Verizon will buy core assets of Yahoo for 4.8 billion US dollars. According to sources, the deal includes Yahoo real estate assets, while some intellectual property is to be sold separately.
Yahoo.com, one the leading search engine, was front door to the web for an early generation of internet users. Yahoo was Started in 1994 by Stanford graduate students Jerry Yang and David Filo. After selling core assets to Verizon, Yahoo shareholders will be left with about 41 billion US dollars in investments in the Chinese e-commerce company Alibaba, as well as Yahoo Japan and a small portfolio of patents.
The deal will end months of uncertainty about Yahoo’s future as well as boost Verizon’s AOL internet business, which the company acquired last year for 4.4 billion US dollars. By 2008, Yahoo was fending off a contentious takeover bid from Microsoft Corp (MSFT.O) and struggling to define its future plans. The company scrapped plans to spin off its Alibaba stake after investors fretted over whether that transaction could have been carried out on a tax-free basis.http://www.people24x7.org/verizon-set-to-buy-yahoo-for-4-8-billion-us-dollars/https://i2.wp.com/www.people24x7.org/wp-content/uploads/2016/07/YY7.jpg?fit=1024%2C688https://i2.wp.com/www.people24x7.org/wp-content/uploads/2016/07/YY7.jpg?resize=150%2C150FEATURED POSTSfeatured