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Verizon takes over Yahoo

By   /  July 26, 2016  /  Comments Off on Verizon takes over Yahoo

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For many across the world, it was Yahoo that gave the platform to open a mail ID. Even before Gmail entered the scene, there was of course Hotmail, which was more restricted to the US, and for the rest of the world, it was either yahoo.co.in (for India) or yahoo.com. So when now, Yahoo is acquired (even of it is only for its operations part) by Verizon, which is going to bring Yahoo under its AOL, it brings back .

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The deal has been sealed at 4.83 billion dollar (almost Rs 32,000 crore rupees). And the acquisition includes Yahoo’s cash reserve, Alibaba Group Holdings, Yahoo’s Japanese shares, Convertible notes, minority shares, patents have all been taken away. The earlier agreements would be expiring by the end of Quarter One. And until then it will be operating as an independent entity.

Yahoo mail, news, etc would be would now be with Verizon. Chairman, Lowell McAdam shared that the acquisition has made it a competitive game player in mobile market.

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