Verizon hit Yahoo! another 350 million dollars

Consequences of past hacking and leaks of personal data of users of Yahoo! still chasing the company. The fact of hacking has more than once influenced the cost of the Yahoo! purchase announced in 2016. telecommunications company Verizon.

In the latest announcement Verizon on its official website reports that a new agreement was reached on the value of the transaction. This time, the Internet giant of the past fell another $ 350 million.

"In accordance with the latest changes, Verizon and Yahoo! agreed to reduce the cost of acquiring the current business of Yahoo! for $ 350 million. In addition, Verizon and Yahoo! share the legal and regulatory obligations that have arisen because of violations by Yahoo! ”, - said on the official website of Verizon.

The telecommunications giant was not only able to bring down the price of the planned purchase once again, but also shifted part of the costs of eliminating the consequences of hacks to the part of Yahoo !, which did not enter the transaction.
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Recall that in January 2017 it was reported that the deal between Yahoo! and Verizon is delayed. The reason for this was the revaluation of the risks and damage that Yahoo! hacking and information leaks, i.e. Verizon was reviewing the value of the Internet company's assets.

The main goal of Verizon when buying Yahoo! is to obtain the intellectual property of the company and its customer base. Then it was about the amount of $ 4.83 billion, but now the official value of the transaction has dropped to $ 4.48 billion.

With this, the current market value of the assets to be sold by Yahoo! estimated at almost $ 38 billion, but the company is in a protracted crisis and losing money from year to year. Yahoo’s only major acquisition was Alibaba’s stake, which was already partially sold several years ago.

If the deal finally takes place, the current executive director of Yahoo! Marisa Mayer will leave her post, while receiving a solid compensation. Five more board members will leave with her, including the co-founder of Yahoo! David Filo. The existence of Yahoo! will also be terminated: Veziron and Yahoo! form the holding Altaba Inc.

In 1998, the Yahoo! refused to buy for $ 1 million a small startup of two students from Stanford. Now we know him as Google. In 2000, the cost of Yahoo! amounted to $ 125 billion, in 2007 Microsoft intended to buy the company for $ 44 billion, but, contrary to the opinion of shareholders, the proposal of the software giant was rejected by the founder and first executive director of the company, Jeffrey Young.