Verizon Communications said on Tuesday it would buy Yahoo’s core business for $4.48 billion, lowering its original offer by $350 million in the wake of two massive cyber attacks at the internet company.
The closing of the deal, which was first announced in July, had been delayed as the companies assessed the fallout from the data breaches that Yahoo disclosed last year.
The No. 1 US wireless carrier had been trying to persuade Yahoo to amend the terms of the agreement following the attacks.
The deal will combine Yahoo’s search, email and messenger assets as well as advertising technology tools with Verizon’s AOL unit.
Verizon has been looking to mobile video and advertising for new sources of revenue outside the oversaturated wireless market.
The companies said on Tuesday they expect the deal to close in the second quarter.
Full Content: CBS News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
