Gadgetory

yah-hoo is getting purchased by Verizon it's official after a lot of speculation yahoo has a buyer the largest wireless carrier in the u.s. Verizon will pay four point eight three billion dollars in cash to pick up Yahoo's core internet business the deal must pass through the standard closing requirements like getting approval by yahoo shareholders and regulatory agencies if everything goes as planned verizon says yahoo will be integrated with AOL Marnie Walden EVP and president of product innovation and new businesses will lead the combined unit the acquisition is expected to be complete in the first quarter of 2017 so what is Verizon buying exactly the company is not buying all of Yahoo it's buying Yahoo's internet business that includes Yahoo Mail finance sports and news verizon also will get its hands on Yahoo's advertising tech putting together Yahoo with Verizon's other Holdings would position the company as a third alternative for digital advertising with Google and Facebook being the leaders right now Verizon will not be purchasing Yahoo's equity in Chinese e-commerce site Alibaba Yahoo owned a 15% stake in Alibaba valued at about 31 billion dollars Verizon will also not acquire Yahoo's 35.5% interest in Yahoo Japan was approximately eight billion dollars what's left of Yahoo will continue to own those interests but that company will change its name when the Verizon deal goes through what about the head Yahoo Marissa Meyer well she left Google to become CEO of Yahoo in 2012 she published an email that she sent out company-wide in it Meyer says she is planning to stay she says she loves Yahoo and believes in its employees that's it for this tech news update I'm Aya's Akhtar and you can stay on top of the biggest stories at cnet.com slash