On Monday, the news became official. Verizon and Yahoo! announced that they have entered into a definitive agreement under which Verizon will acquire Yahoo’s operating business.
The deal is worth approximately $4.83 billion in cash (subject to customary closing adjustments).
But at a time when Yahoo remains embattled in countless ways, facing criticisms at every turn, is this deal ultimately in the best interest of Verizon?
AOL CEO Tim Armstrong sees the positive in it all.
“There’s been a lot written about Yahoo, they get covered in the press like we get covered in the press, but I think when you strip away all of the noise around Yahoo, you get down to a billion users, a very talented team, a global brand and it seems like a powerful partnership for us if we’re living in the digital age,” Armstrong is quoted by TechCrunch. “There’s very few companies with the size and scale of Yahoo, who have the customer loyalty and consumer loyalty that they have.”
To read the full interview on TC, click here.