Verizon to acquire Yahoo’s operating business
Verizon announced this week that it is buying Yahoo’s operating business for about $4.83 billion.
The closing on the agreement isn’t expected to happen until the first quarter of 2017, said Suzanne Philion of Yahoo. Philion said there are no immediate plans for any changes to Yahoo’s Quincy operation, which is currently undergoing an expansion.
“As we remain an independent company up through the close, our plans don’t change at all for the time being,” Philion said. “We’ll continue to execute against the strategy that we established at the beginning of this year. Given that, we continue to move forward with our expansion plans at our data center in Quincy.”
Verizon Communications also acquired AOL about a year ago. Yahoo will be integrated with AOL, according to a Yahoo press release.
“This transaction is about unleashing Yahoo’s full potential, building upon our collective synergies, and strengthening and accelerating that growth,” Tim Armstrong, CEO of AOL, said in the press release. “Combining Verizon, AOL and Yahoo will create a new powerful competitive rival in mobile media, and an open, scaled alternative offering for advertisers and publishers.”
In Quincy, Yahoo has been undergoing an expansion at the local data center. The expansion will add about 300,000 square feet to Yahoo’s operation and will be on 20 acres to the east of Yahoo’s current data center, Yahoo officials said in October. Yahoo’s Quincy data center, opened in 2007, is one of three the company owns and operates in the country.