Verizon to Finalize Yahoo Deal at $250-350m

We have been hearing from quite some time that the once pioneer messenger of the world and internet’s most recognizable company “Yahoo” is going to be acquired by U.S. company “Verizon”. It looks like that acquisition will take place soon. As the company has agreed to some extent. Verizon to Finalize Yahoo Deal at $250-350m

Verizon has done everything to convince Yahoo to modify the terms of the acquisition agreement. According to sources, Verizon is close to an updated deal to buy Yahoo Inc’s core internet business for $250 million to $350m less than the actual agreed price of $4.83 billion.

Verizon to Finalize Yahoo Deal at $250-350m

Sources told Reuters that the agreement, which would be finalized soon will bring about Verizon and Yahoo sharing the accountability from potential accusations relevant to the data breaches.

The incision price will most probably around $250m, Bloomberg reported. However a representative from Verizon refused to comment. Yahoo also did not immediately respond to requests for comment.

Verizon anticipates to combine Yahoo’s search, email and messenger assets, along with publicity technology tools, with its AOL unit

Also Read: One Billion Yahoo Accounts Hacked in Massive Security Breach

After the acquisition the Yahoo will rename itself Altaba Inc. Though Lycos will still remain. Verizon anticipates to combine Yahoo’s search, email and messenger assets, along with publicity technology tools, with its AOL unit, which Verizon bought in 2015 for $4.4bn.

Yahoo has been under surveillance by federal investigators and lawmakers since disclosing the biggest known data breach in history in December. The US Securities and Exchange Commission has already started investigations related to the breach.

The company has also sent warning to users whose accounts may have been accessed by intruders between 2015 and 2016. That have been issued as part of a data security issue related to the breach it revealed in December. A person aware of the situation said notifications have gone out to a mostly final list of users. So lets see when we get to hear about the final acquisition.

Also Read: RIP Yahoo: Lycos Still Survives