(MENAFN) Yahoo has finally settled to sell its core business to Verizon for a total of USD4.83 billion, indicating an end to one of the internet's most pioneering firms as a standalone entity.
Under the takeover, the largest US wireless service provider will put its hands on Yahoo's search, mail and instant messaging services, along with its ad platform and a few real estate holdings.
Moreover, Yahoo's ad business and digital content services will be of major value to Verizon as it looks to increase its offerings in this space after the purchase of AOL last year for USD4.4 billion.
However, Yahoo will keep its stake in Chinese internet giant Alibaba and Yahoo Japan, which have a combined value of over USD40 billion, but CEO Marissa Mayer isn't likely to join Verizon.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.