Verizon is cutting the price of its deal to buy Yahoo by $350 million or about 7% as per the latest development. Under the revised terms of the deal, Verizon’s purchase the Yahoo assets will now total $4.48 billion. Yahoo still faces probes and lawsuits related to the breaches, which affected more than 1.5 billion accounts.
“We wanted to know how many customers walked away from Yahoo,” one of the people said. “Were there a few? Yeah, but there wasn’t enough to make it worth a billion-dollar dip in price or worth walking away. We still think this is a good deal for us.”
Yahoo CEO Marissa Mayer said in July she planned to stay with Yahoo through the sale process, which is expected to conclude between April and June. A Yahoo regulatory filing in January said she would leave the firm’s board if the deal went through. And analysts believe she won’t be kept on at Verizon. (Image- Network World)