Home Business NewsBusiness Verizon pays out $350m less in price cut deal with Yahoo

Verizon pays out $350m less in price cut deal with Yahoo

21st Feb 17 3:05 pm

Take a look at the figures…

Verizon and Yahoo have agreed on a deal for the company’s core internet business, it is however $350m (£281m) less than what was originally agreed.

Doubts had come to light over the original deal after Yahoo suffered from two cyber-attacks.

Following the low-price cut, Verizon said it was now buying the Yahoo business for around $4.48bn.

Under the new deal, Verizon and Yahoo will split the costs when it comes to lawsuits over the most recent cyber-attacks.

Verizon is looking to merge Yahoo’s search, email and messenger assets and its advertising technology tools with its AOL unit.

Verizon believes mobile video and advertising will bring in more revenue.

Back in December 2016, Yahoo admitted to a large cyber-attack which took place in 2013, it affected more than a billion customer accounts.

It had also previously admitted to a breach which took place in 2014 which affected half a billion customers.

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