Expanding in the digital business and tech, Verizon made an investment to enlarge its territories. It was reported today from various news sources that Verizon acquired Yahoo in a deal that closed for $4.83 billion dollars to be exact. Yahoo was listening and paying attention to Verizon's popular commercial "can you hear me now?" because they have been trying to lock a deal for quite some time now. And Verizon is paid baby! Because they easily coughed up over $4 billion dollars like it was the flu or something.
Referencing an article from Reuters, the business acquisition deal between Verizon and Yahoo will be a cash transaction and the companies will merge in benefiting the expansions of one another. Yahoo will assist Verizon in developing their AOL internet services and, Verizon will spearhead Yahoo's digital advertising and the media aspects of business on a broader scale. The finalizing of the deal will take place next year in 2017 which will end Yahoo's independent reign and begin a new era of their merger with Verizon.
Verizon must of been the highest bidder (can you hear me now?), other prospects included billionaire Warren Buffett, AT&T, Dan Gilbert who is the founder of Quicken Loans, buy-out firms such as Sycamore Partners; and more.
Even though Yahoo has been acquired by Verizon, Yahoo will maintain its Japan and Alibaba investments of $40 billion. And closed on the market this past Friday for $37.4 billion. Both companies will be undergoing some upcoming changes of merging as one. Some of their employees are choosing to remain such as Yahoo's CEO Marissa Mayer, who went on her Tumblr and expressed excitement about Yahoo's next chapter and the growth of its business relationship with Verizon.