Published: Wed, June 14, 2017
Research | By Francis Brooks

Verizon takes over Yahoo to complete $4.5 billion deal

Verizon takes over Yahoo to complete $4.5 billion deal

With Yahoo's acquisition by Verizon completed, and Mayer's exit, the Silicon Valley experiment that was Yahoo's resurgence is officially over.

It's official-Verizon just announced it finalized the deal to purchase Yahoo for $4.48 billion.

And Marissa Mayer, CEO of Yahoo since 2012, said Tuesday on Tumblr she would resign. She will walk away from Yahoo with a compensation package now worth about $127 million, including her severance pay and stock awards that will be fully vested with the deal's completion. Armstrong will now be CEO of a new Verizon subsidiary called Oath, which will consist of Yahoo and various AOL services. Both breaches put more than 1.5 billion user accounts at risk when cyber criminals gained access to user information, including e-mail addresses, birthdays, and scrambled passwords. Verizon is combining Yahoo and AOL into a new company called OATH, which will house many different publications and brands, including Yahoo Sports, The Huffington Post, Engadget, TechCrunch, Tumblr, Flickr and more.

"I'm really sad to see the end of Yahoo as an independent company", says Tapan Bhat, a former senior vice president at Yahoo.

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The Verizon and Yahoo deal has been sealed and former Yahoo CEO Marissa Mayer is walking away with a pretty sweet deal.

Verizon has made no indication of how it will use the Yahoo brand - which is used by over a billion people worldwide - but indicated it is keeping the names Yahoo Sports, Yahoo Finance, Yahoo Mail and more.

But to be fair, Mayer wasn't exactly dealt a great hand when she joined Yahoo.

During Mayer's five-year tenure at Yahoo, the company has undergone ad revenue losses as competition from Google and Facebook itensified. Experts said it's this massive audience that attracted Verizon to Yahoo. "The turmoil of the last few years has obscured the value that Yahoo provided from the earliest days of the web to the latter part of the first decade of the '00s". The two companies had then reportedly agreed to change the final acquisition price to $350 million less than the original offer of about $4.8 billion.

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