The Yahoo search engine sells for $ 4.8 billion of its Internet activities to the US telecommunications giant Verizon, which last year had already bought more than 4 billion American online. The agreement marks the end of Yahoo as an operating company, leaving a 15% stake in the Chinese e-commerce leader Alibaba and a stake in Yahoo Japan
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After rumors circulated over the weekend, has now reached the official confirmation. Verizon Communications has bought the assets “core”, those related to the web, Yahoo for 4.83 billion dollars in cash, thus ending the process of looking for potential buyers that lasted for months. As it said in a statement, the agreement is subject to approval of the regulatory authorities and the Yahoo shareholders and will be closed, as planned, in the first quarter of 2017. Until the end “Yahoo will continue to operate independently, offering and improving products and services for users, advertisers, developers and partners. ” The agreement includes the internet core assets – which will be transferred to the subsidiary of Verizon, AOL – and some real estate assets.
The agreement does not include, among other things, the liquidity of Yahoo, the share of the Chinese colossus of ‘ e-commerce Alibaba Group, the share of Yahoo Japan and the so-called “portfolio Excalibur”, namely that concerning the non-essential patents. Nor does it include some minor investments and convertible bonds that will continue to be held by Yahoo. These assets will remain in the hands of Yahoo, while those detected Verizon will feed into AOL.
At the closing of the agreement Yahoo will change its name and will continue to be listed. At the moment it is unclear what will be the fate, and the possible role of the managing director of Yahoo Marissa Mayer. According to observers, it is unlikely that it will have an important assignment, and someone thinks that will not even any role. The Mayer contract provides for the payment of a severance pay of more than $ 50 million if it were to be thrown out as a result of a sale. So far he has earned compensation in cash and shares for over $ 100 million. “Just over a year ago we took over AOL for raffozare the cross-screen access strategy for our clients, thanks to a technology that combines data, content and innovation,” said the chief executive of Verizon’s Lowell McAdam, pointing ultiore to a strengthening of its activities with the acquisition of Yahoo’s assets. The statement does not clarify the future role of the managing director of Yahoo Marissa Mayer.
Verizon had initially put into the pot $ 3 billion, but the figure did not include real estate assets then finished in the final agreement. With the Verizon transaction very strengthens its portfolio of online content (eg add sites like Yahoo Finance, Sports and News, but also the search engine, e-mail service, the platform for Flickr and Tumblr blog) and aims to outa funded by advertising. It must be said that even after the acquisition of Yahoo assets, Verizon continues to lag behind giants like Google and Facebook, which catalyze more than half of the 69 billion digital advertising market.
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