Telecom giant-Verizon which also owns AOL has agreed to acquire Yahoo for $4.83 billion in an all-cash deal, to be completed early next year.
The Yahoo takeover means Verizon will now own Yahoo’s search, communications and digital content products, as well as its ad services, which cumulatively reach a global audience of over 1 billion users.
However, Verizon’s 4.8 billion dollar acquisition does not include Yahoo’s shares in Chinese ecommerce and tech titan Alibaba as well as its shares in Yahoo Japan.
What we now know as Yahoo will “continue to hold these assets under a publicly traded investment with a new name after the transaction is closed,” reports TheNextWeb.
In a statement (full below), Yahoo’s CEO, Marissa Mayer says she is not leaving—at least not yet.
Verizon Acquires Yahoo for $4.8 Billion—CEO Marissa Mayer Says She's Not Leaving YET