Yahoo has finally found a new home after operating independently for more than 2 decades. Verizon, which is an American broadband telecommunications company, has acquired Yahoo for a dollar amount of 4.83 billion US dollars.
With this sale, Verizon takes over Yahoo’s properties including the advertising platform, content, the search engine as well as all properties on the mobile platform.
Verizon currently owns AOL which it bought early last year in one of its strategic plans to increase interactions between consumers and advertisers.
“Yahoo is a company that has changed the world, and will continue to do so through this combination with Verizon and AOL” said Marissa Mayer, chief executive of Yahoo.
Yahoo already has stakes in Alibaba as well as Yahoo Japan but the two are not part of the deal between it and Verizon. Yahoo will now be integrated with AOL.
According to AOL chief executive Tim Armstrong, “the deal was about unleashing Yahoo’s full potential as well as creating a major player in mobile media.”
Verizon bought AOL at a price of 4.4 billion US Dollars in what economic analysts said was one of the company’s way to enhance its operations. The buying of Yahoo, one of the online giants now puts Verizon at the helm of the mobile and internet industry as well as widening its revenue acquisition.
“This transaction also sets up a great opportunity for Yahoo to build further distribution and accelerate our work in mobile, video, native advertising and social. Yahoo and AOL popularized 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. We have a terrific, loyal, experienced and quality team, and I couldn’t be prouder of our achievements to date, including building our new lines of business to $1.6 billion in GAAP revenue in 2015. I’m excited to extend our momentum through this transaction.” Read more in the statement released by Marissa Mayer.