Yahoo Sold To Verizon For Only $4.8 Billion. No doubt Yahoo gave us so many things and changed the world very much. Starting from its free email service to its unique interesting chat messenger. Then Yahoo answers and a lot more we enjoyed with Yahoo.
Once the largest search engine of the world is now observing its fall. The american telecom giant verizon is buying Yahoo for $4.8 billion.
The deal includes Yahoos email service, websites dedicated to news, finance and sports, advertising tools, real estate and some other patents, The deal is expected to close in the first quarter of 2017.
Now Yahoo will join its longtime rival, AOL, which the verizon already snatched up last year for $4.4 billion. Both companies offer a cautionary tale of how an Internet titan can quickly turn into an also-ran. But together, analysts said, they provide Verizon a key foothold in digital advertising.
The sale does not include Yahoos cash or its shares in Alibaba Group and Yahoo Japan. After the deal closes, these assets will become a publicly traded investment company with a new name.
The final price is far lower than $45 billion which Microsoft offered to Yahoo in 2008. But at that time Yahoo rejected that offer. But Yahoos brand has taken a beating in recent years, with some analysts saying the company should be happy to fetch anywhere near $5 billion.
Source: Tech Grand