According to reports circulating in the digital world, the deal for Yahoo has been completed, which has been purchased by Verizon Communications Inc. for $4.8 billion. The acquisition announcement will be made this Monday, before the NYSE opens.
Yahoo Inc.'s bad luck isn't going to end anytime soon. Its ongoing struggle for survival on the World Wide Web, of which it was a pioneer in its time, has been ongoing for about the past decade. The company has faced ups and downs over the years and can't seem to move in any particular direction.
The appointment of Marissa Mayer as CEO was a glimmer of hope. It was expected that Mayer would lift the company from drowning in the ocean of the Internet, which requires exceptional innovation and hard work to survive “above water”. Under Mayer’s leadership, Yahoo went on to acquire about fifty startups, including the $1.1 billion Tumblr purchase. Despite this, Yahoo still manages to be in the 5thposition on Alexa and receives about 700 million views per month.
Yahoo rejected a takeover bid from Microsoft in 2008. There is another Yahoo takeover news that has piqued the curiosity of techies around the world. This time, the likely buyer is Verizon Communications Inc, the American telecommunications brand behind GigaPower. Reports from Reuters indicate that the bid deal is believed to be in the region of $5 billion. The deal, if completed, would allow Verizon to come up with a combined version of its AOL and the new services added to Yahoo.
The announcement of the acquisition, which includes Yahoo's internet services such as email, search, advertising, Tumblr and real estate, will be made before the New York Stock Exchange opens on Monday this week. However, there was no comment from Yahoo or Verizon.
Yahoo – founded by David Filo and Jerry Yang in 1994 – was the leading search engine and email provider before the Google era. GoogleSergey Brin and Larry Page offered their company to Yahoo for just $1 billion, but Yahoo turned down the offer. Now, Google has reached heights that Yahoo may never be able to reach.
This is another big acquisition news that has surfaced since Avast bought AVG. Let's see what the future holds for Yahoo! Will it be just another Verizon subsidiary or will it be able to reach its old success again?
