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Varizon Acquires Yahoo for $4.8 Billion




Yahoo, the front door to the web for an early generation of internet users, will no longer be an independent company as Varizon, seeking to boost its inadequate digital content for consumers, announced on Monday that it was acquiring Yahoo's core internet business for $4.83 billion in cash.
“The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company and help accelerate our revenue stream in digital advertising,” Lowell C McAdam, Verizon's Chairman and Chief Executive, said in a statement.
The deal, which was reached over the weekend, unites two titans of the early internet, AOL and Yahoo, which were surpassed by Google and Facebook long ago and have struggled to compete on their own.

For more details: http://epaperbeta.timesofindia.com/Article.aspx?eid=31808&articlexml=Once-valued-at-125bn-Yahoo-sold-to-Verizon-26072016021026

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