Yahoo has accepted a deal with Verizon that will see the business buy Yahoo Inc for $4.8 billion, it has been reported, this morning.
Major media outlets are anticipating the news to be announced and fully confirmed at some point today, reports are stating.
This will mark the end of many months of uncertainty surrounding the future of Yahoo following the announcement from the company that it was set to review its strategic options five months ago, in February this year.
With a market capitalisation currently sitting at a cool $228 billion, Verizon saw itself come out as the front-runner in the auction to attain Yahoo. Bidding began in April and the $4.8 billion deal displays a rather large gulf in the previous value of Yahoo’s value of previous times, most notably when it was once valued in excess of $125 billion.
It is expected that Yahoo will sell everything including its email and news service, along with the sports and finance sites, as well as their advertising tools.
The move will see the expansion of Verizon’s AOL internet business, obtained in 2015 at a cost of $4.4 billion.
Verizon has stated that it has every intention to keep the Yahoo brand in a move that would see the acquisition mark the end of Yahoo as an operating company.
The end of an era, some might say, but a shrewd move from Verizon to keep their digital commerce platform expanding.