After months of bidding, Verizon will officially acquire Yahoo’s operating business. The acquisition will go for $4.83 billion in cash, and consist of Yahoo’s advertising technology, mobile and search content, including Yahoo Sports, Yahoo Finance and Tumblr.
This massive acquisition follows Verizon’s purchase of AOL for $4.4 billion in May 2015. The combination of both the AOL and Yahoo purchases sets the stage for Verizon to become a strong competitor towards other digital media advertisers, including Google and Facebook.
Aside from their digital media components, Verizon will also gain the Yahoo brand and California headquarters. It’s reported CEO Marissa Mayer will stay onboard for the foreseeable future and oversee the transition.