Verizon to buy Yahoo's core business for $4.8 billion in digital ad push

Verizon to buy Yahoo's core business for $4.8 billion in digital ad push

Verizon Communications Inc said on Monday, July 25th 2016, it would buy Yahoo Inc's core internet properties for $4.83 billion in cash.
The transaction ends the independence of one of Silicon Valley’s most iconic pioneering companies.
Yahoo will now be united with one of the other fallen star- AOL which was the first web portal that Verizon bought last year for $4.4 billion.

"Today’s announcement not only brings us an important step toward separating Yahoo’s operating business from our Asian asset equity stakes, it also presents exciting opportunities to accelerate Yahoo’s transformation, " wrote Marissa Mayer, Yahoo CEO.

While on the other hand, Marni Walden- the President of product innovation and new businesses said, "Yahoo gives us scale and that's what's most critical here. We go from being in the millions of audience to the billions. We want to compete and that's the place that we need to be, so we're very pleased with where we are today," Walden said.

Experts conclude this to be a Saddest $5 Billion Deal in the Technology History