Verizon to acquire Yahoo, will be integrated with AOL
It’s official. Verizon Communications Inc. and Yahoo! Inc. has announced that Verizon will acquire Yahoo’s operating business for approximately $4.83 billion in cash and will be integrated with AOL – an American global mass media corporation they acquired in June 2015.
According to Verizon Chairman and CEO, Lowell McAdam, the acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company. It will also help accelerate the company’s revenue stream in digital advertising.
Yahoo CEO, Marissa Mayer, on the other hand, said that the transaction sets up a great opportunity for Yahoo to build further distribution and accelerate their work in mobile, video, native advertising and social.
Yahoo will be integrated with AOL under Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
The acquisition is subject to customary closing conditions, approval by Yahoo’s shareholders, and regulatory approvals, and is expected to close in Q1 of 2017. Until the closing, Yahoo will continue to operate independently, offering and improving its own products and services for users, advertisers, developers and partners.