American Internet service provider Verizon Communications and Yahoo today announced they have entered into a definitive agreement under which Verizon will acquire Yahoo’s operating business for approximately USD4.83 billion in cash.
As a result of this transaction, Yahoo will be integrated with AOL media corporation, that was bought by Verizon last year with USD 4.4 bln. Verizon will keep Yahoo brand.
Touching upon the deal Forbes recalls that “Yahoo was once the king of the Internet, a $125 billion behemoth as big in its time as Facebook or Google are today”.
According to Forbes the transaction “ends the independence of one of Silicon Valley’s most iconic pioneering companies”.
Yahoo American multinational internet corporation was founded by Jerry Yang and David Filo in January 1994.
