A little more than a year after Verizon Communications Inc. scooped up AOL Inc. for $4.4 billion, the New York-based telecommunications giant announced Monday its acquisition of a key operating unit of struggling internet giant Yahoo! Inc.
The deal, expected to close in the first quarter of 2017, will see Basking Ridge, New Jersey-based Verizon pay $4.83 billion in cash for the search, digital content and advertising technology assets of Sunnyvale, California-based Yahoo, which has been considering its strategic alternatives since earlier this year.
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