Back in August 2016, we got to know that the Internet Pioneer Yahoo is going to stop its run after more than two decades. Verizon comes out to acquire Yahoo, and today the deal has been closed. Verizon is now officially owned Yahoo, for a whooping $4.48 billion.
As the deal ends, it’s also announced that Marissa Mayer, CEO of Yahoo is also leaving the company. She took charge in Yahoo, five years ago after serving more than a decade in Google. But she didn’t do much to bring Yahoo back to the commanding situation.
All the assets of the company are now mixed into the AOL, which the telecom giant Verizon bought in the year of 2015. All the operations of the Yahoo are now integrated into a new unit called Oath. And the ex-CEO of AOL, Tim Armstrong will be the CEO of the Oath.
The acquisition process took long time to end, last year Verizon made offer of $4.83 billion. But the process faced breakdown, which may be because of the hacks. Which Yahoo revealed and the attack has affected 500 million accounts.
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Via: ET Telecom