Verizon remains resolute despite the hurdles that have dominated the tech firm for many months. Reports of Verizon entangled with the $350 million deal from its yahoo deal are on the rise. However, despite the data breaches, the tech firm aims at making this acquisition a profiting one.
Reuters reported that Verizon had lowered its purchase price for Yahoo’s core business by $350 million, down to $4.48 billion. While the deal between Yahoo and Verizon gained momentum last July 2016, but progress on the acquisition was pretty slow pace owing to the breaches that have hounded Yahoo for more than six months.
Verizon deal with Yahoo
9TO5Mac also mentioned that for the new terms, Yahoo remains responsible for liabilities from shareholder lawsuits and SEC ingestions due to the data breaches, while the two companies will split cash liabilities related to “some government investigations and third-party litigation.” As for when the deal will close, Verizon and Yahoo said today that they expect everything to be finalized in Q2 of this year and though, the data breaches may delay “some integration of Yahoo with Verizon after the closing,” reports the same post.
Additionally, Verizon and Yahoo indicated that the transition would finish within the second quarter of 2017. Additionally, Verizon aims at utilizing Yahoo’s 1 billion-plus monthly user base, along with its 600 million mobile users including AOL’s audience, as noted by ASZ.
More details about the Verizon acquisition
“We look forward to moving ahead expeditiously so that we can quickly welcome Yahoo’s tremendous talent and assets into our expanding portfolio in the digital advertising space,” Marni Walden, Verizon EVP and president of product innovation and new businesses said in a statement.
With the new deal for Verizon, the company aims at making this year stronger and profitable to regain the lost profits for the past years.
Looking back, Verizon has dealt with the crisis owing to its workforce on strike. However, despite the setbacks, the company was able to bounce back. The acquisition of Yahoo will once more propel Verizon to new heights.
