London Independent
July 25, 2016
July 25, 2016
Verizon has confirmed that it will buyout Yahoo! for $4.83bn (£3.6bn) in cash, marking the end of the six-month sale process and the end of an era for a company that once defined the internet.
Marissa Mayer, Yahoo! chief executive, described the deal as “an important step in unlocking shareholder value for Yahoo!”.
“Yahoo! and AOL popularised the Internet, email, search and real-time media. It’s poetic to be joining forces with AOL and Verizon as we enter our next chapter focused on achieving scale on mobile,” she added.
Analysts have said the deal could mark the end of Mayer’s four-year tenure as CEO of the company. She is considered to have failed to turn around Yahoo! despite a booming market for digital advertising that could have benefitted the company.
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