Verizon has completed its $4.5 billion acquisition of Yahoo, the two companies closed their agreement yesterday.
The Yahoo assets acquired by Verizon are being combined with their AOL business unto a new company called Oath.
Strategic Importance of the Acquisition
The acquisition of Yahoo by Verizon is a significant move in the digital media landscape. By merging Yahoo’s extensive digital content and advertising capabilities with AOL’s existing assets, Verizon aims to create a formidable presence in the online advertising market. This strategic acquisition is expected to enhance Verizon’s ability to compete with digital advertising giants like Google and Facebook. The combined resources of Yahoo and AOL under the Oath brand will provide Verizon with a diverse portfolio of over 50 brands, including popular sites like HuffPost, TechCrunch, and Tumblr.
Marni Walden, Verizon president of Media and Telematics, said, “The close of this transaction represents a critical step in growing the global scale needed for our digital media company. The combined set of assets across Verizon and Oath, from VR to AI, 5G to IoT, from content partnerships to originals, will create exciting new ways to captivate audiences across the globe.”
Tim Armstrong, former CEO of AOL, is now CEO of Oath, which is part of Verizon’s Media and Telematics organization. He has been leading integration planning teams since the Yahoo transaction was announced in July 2016, and Oath begins operation today as a global leader in digital and mobile. See www.oath.com for further information.
Future Prospects and Innovations
The creation of Oath marks a new chapter for Verizon as it ventures deeper into the realms of digital content and advertising. The integration of Yahoo’s assets is expected to bring about innovative solutions in various fields such as Virtual Reality (VR), Artificial Intelligence (AI), and the Internet of Things (IoT). These technologies are poised to revolutionize how content is consumed and how advertisers reach their audiences. For instance, VR can offer immersive advertising experiences, while AI can provide personalized content recommendations, enhancing user engagement.
Moreover, the advent of 5G technology will play a crucial role in Oath’s future endeavors. With faster internet speeds and lower latency, 5G will enable more seamless streaming of high-quality content and real-time interactions, further enriching the user experience. Verizon’s investment in these cutting-edge technologies underscores its commitment to staying at the forefront of digital innovation.
You can find out more details about the deal between Verizon and Yahoo at the company’s website at the link below.
Source Verizon
Latest Geeky Gadgets Deals
Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
