[Global Synthetic Reporter Li Zongze] According to a report on February 22 from the United Kingdom Reuters, on the 21st of the United States, Verizon Communications, the largest wireless communications operator in the US, stated that after two serious cyber attacks on Yahoo, The company's purchase of its core business will be $350 million lower than the initial offer, at $4.48 billion.
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A person familiar with the matter said that after several weeks of negotiations, both Wisdom and Yahoo signed an agreement on Sunday evening. The negotiation process included several calls with Yahoo CEO Mayer, as well as the agreement between Chief Executive Lowell McAdam and Yahoo Director Tom McInerney on price cuts in New York earlier this month.
The person stated that after Weixin conducted a brand study, Yahoo’s reputation was maintained after the hacker incident. Weixun decided to continue the negotiations, partly because it still believes that the deal is strategic, and that users are loyal and active.
The agreement was first announced in July last year, but was delayed because of the impact of the two companies’ disclosure of the two data breaches disclosed by Yahoo last year. After the news came out, Weixin has been convincing Yahoo to modify the terms of the acquisition agreement. The consensus reached by both parties in principle about a week ago also included a debt-sharing agreement. It was already clear to Vesonic that an agreement was necessary. The two companies said on the 21st that they expect the transaction to be completed in the second quarter.
This transaction will allow Weishen to absorb more than 1 billion users of Yahoo. Weisoo can also use Yahoo's huge data to achieve more accurate advertising. Weixun will integrate Yahoo's advertising technology tools and its search, email, and instant messaging assets with its own AOL branch. Yahoo acquired AOL for $4.4 billion in 2015.
According to the revised terms, Yahoo and Weishun will share the government investigations related to data leakage incidents and the cash liabilities resulting from third-party lawsuits. However, Yahoo will still bear the liabilities related to shareholder lawsuits and SEC investigations.
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