In 2016, Yahoo fell victim to not one but two large data breaches which saw a combined 1,500,000,000 accounts affected in some capacity. This security flaw has adversely affected its acquisition deal with Verizon which has now confirmed new terms for the sale of Yahoo.
Yahoo is now being sold for $4.48billion - $350million less than the original price.
Marni Walden, Verizon’s Executive Vice President of New Business, said in a statement:
“We have always believed this acquisition makes strategic sense. We look forward to moving ahead expeditiously so that we can quickly welcome Yahoo’s tremendous talent and assets into our expanding portfolio in the digital advertising space,”
“The amended terms of the agreement provide a fair and favorable outcome for shareholders. It provides protections for both sides and delivers a clear path to close the transaction in the second quarter.”
Yahoo Takes $350 Million Hit in Verizon Deal– Data Breach Today
After Data Breaches, Verizon Knocks $350m Off Yahoo Sale, Now Valued at $4.48B - TechCrunch