Verizon acquired Yahoo for $5 billion
Verizon just agreed to acquire Yahoo for $4.8 billion. After the indicated money will be payed in all-cash to Yahoo (and also after few other financial steps), Yahoo will be controlled under Verizon and will be co-operated with AOL which is also owned by Verizon.
Since February, Yahoo was in sale and according to Yahoo Finance, there were about as much as 40 bidders including “AT&T; Quicken Loans founder Dan Gilbert with financial backing from Berkshire Hathaway CEO Warren Buffett; and private equity firms TPG and Vector Capital Management”. However, Verizon won the bid and on Monday, officially announced that they will acquire Yahoo.
However, this deal doesn’t include every service and shares of Yahoo. While Verizon will be able to control Yahoo search, email, advertising products, and the media business which are described as “Yahoo Core”, the shares of Yahoo in Chinese market will not be included in the deal and will continue to held by a new company that will be created by Yahoo itself. Furthermore, the patents are not included to the deal either. Even though the patents trademarked by Yahoo will be sold in another deal, the buyer will not be Verizon for the patents.
Current CEO of Yahoo, Marissa Mayer, will ( probably ) not continue to work in Yahoo. The company formed by the integration of Yahoo and AOL will be controlled under the presidency of Marni Walden, executive vice president of Verizon and president of Product Innovation and New Businesses.
We will see if Verizon can save Yahoo from the bad situation that it is in right now.