Yahoo’s little security debacle has a somewhat happy ending after all as Verizon has decided to go ahead with the purchase of the company. The catch? Verizon will pay USD350 million less than the original USD4.83 billion price.

While the Verizon-Yahoo deal will now be worth only USD4.48 billion, the new agreement would see Verizon “share certain legal and regulatory liabilities” that are caused by the two security breaches that was discovered by Yahoo last year. Simply put, Verizon will pay 50 percent of any financial charges that are levied against Yahoo by government investigations and in any third-party lawsuits. That said, Yahoo will still be held responsible for damages resulting from shareholder lawsuits or from the probe done by the United States’ Securites and Exchanges Commission. The deal is expected to be completed by the second quarter of 2017.

READ MORE  The iPhone X will cost you RM5149 in Malaysia

Overall, Yahoo got incredibly lucky with the way this situation developed as many thought that Verizon would pull out of the deal entirely. Seeing as the deal has been sealed, it seems that Yahoo will live to see another day, albeit one under Verizon’s thumb.

Source: Verizon, Engadget

Comments

comments