Communications company, Verizon, have made a bid to acquire the purchase of popular internet company, Yahoo Inc. Up until recent times, Yahoo has been a major contributor to the worldwide web, boosting a self-entitled search engine as well as e-mail website amongst its prominent services.
However, it must be noted that the emergence of other successful internet companies, such as Google, seem to have branded Yahoo’s days as a relative web-based monopoly a thing of the past.
This hasn’t stopped communication giants Verizon from launching a $4.83 billion dollar bid which Yahoo shareholders are reportedly still yet to accept.
If Yahoo does accept Verizon’s advances, it will become the second billion dollar business the company has acquired, following the $4.4 billion acquisition of AOL in 2015.
Yahoo is auctioning its search and advertising business, with the latter being the service Verizon is said to be most interested in. Yahoo put up its core business for sale in February and has since reported a 5.2 percent increase in its quarterly revenue, spelling good news for Verizon.
All in all, Verizon’s advances hint that the wireless company is confident it can revive Yahoo from the current slump it is in, and perhaps mould a way to see it back to its glory days. AT&T Inc, as well as private equity firm TPG are also reportedly interested in the purchasing of Yahoo’s assets.