Verizon Saved Yahoo From Bankruptcy, $350M Deal Settled
This news is definitely a sigh of relief around Yahoo's offices when it was just confirmed that Verizon is still planning to go through with its purchase of the tech company. The deal was looking a little shaky after it had emerged in multiple reports that Yahoo! had not one but two data breaches in recent years.
Yahoo's Security Issues Throughout The Years
According to Irish Times, it was reported late last year that hackers gained access to information on a majority of Yahoo users in 2013, which included email addresses, dates of birth and scrambled account passwords. It was a pretty much bad timing for the company, which had come so close to the news of 2014 attack that hit at least 500 million customer accounts, and both breaches were even announced after the Verizon deal was struck.
Yahoo's Deal With Verizon
Understandably, there were some misgivings on the purchase. Things have been put on hold while the ramifications of the breaches were being explored, though behind-the-scenes work was still continuing. The deal, which was announced in July, had originally been expected to come to a close in the first quarter of 2017.
Verizon then went on to announce this week that it would proceed with the agreed takeover, with some modifications in mind: the asking price has being reduced by $350 million, bringing the value of the deal to $4.48 billion, and Verizon and Altaba will both bear the legal responsibility for the breaches in the future.
The Asking Price
According to Market Realist, it seems Yahoo may have gotten off lightly. Not only did Verizon continue with the projected acquisition, but it also demanded a lesser and steeper discount than what was originally feared. Investors had already feared anything up to $1 billion off from the asking price.
It all shows that any business that fails to protect any data from its users or customers will end up paying the consequences. This should serve as a warning to other tech companies about the importance of security and user protection.
Tesla's Success Continues To Skyrocket, Thanks To SolarCity
Ron Baron, one of Tesla's major investors, has high praise for what Elon Musk and his company has achieved in a very short period of time. He believes that the company's success will continue to grow and that the acquisition of SolarCity would ultimately help it going forward.
Xbox Scorpio Update: What The Leaked Documents Reveal About Microsoft's Upcoming Console?
News has circulated, claiming that there has been a leaked document pertaining towards some legit specs about the upcoming Microsoft super console, the Xbox Scorpio. The Document was said to be accidentally leaked by an unknown Microsoft employee.
Google's October 4 To Showcase Pixel X, Pixel XL, Daydream VR And Much More
Google is on an ambitious rise to power as it will showcase its new arsenal of gadgets in its October press-con.
You Can Get Up to $358 From the Yahoo Data Breach Settlement. Here's How
If you were a Yahoo product user between 2012 to 2016, you’re eligible for a settlement claim from the massive data breach affecting 3 billion users
2017‘s Fastest Mobile Networks
The true measure of a good mobile network is its overall speed and AT&T, Sprint, T-Mobile, and Verizon are neck and neck in the race for the fastest mobile network in 2017.
MORE IN ITECHPOST
Link Building & Guest Posting Updates- 2020
Over the years, the importance of high-quality backlinks has only increased. What once used to be a quantitative measure, is now qualitatives in nature. In other words, the links are now scanned for the quality they bring in, along with the number of links.
How Do Personal Emergency Response Systems Work?
Personal emergency response systems, known as PERS for short, are systems that help people to raise the alarm and get immediate help when a medical or personal emergency occurs. They are ideal for older people and anyone with a mobility issue or an injury or illness that can cause falls.
How to Download Free Android Emulator for Gaming on PC?
Are you looking to play Android games on PC with the help of the best Android emulator? There are numerous types of online platform which provide user friendly access and support for the interested communities to get immediate access to install their best recommended Android applications.
Netflix is Raising Prices, Here’s How it Now Compares to Other Streaming Services
Once a brand gains the trust and loyalty of its market, it is only logical that it attempts to flex its dominant muscle. Such is the tale that fits the recent price hike coming from the stable of Netflix. Having baited consumers into believing that streaming, and not cable subscription, is the right way to go, Netflix has now decided to drop its own form of a bombshell on consumers in the form of price increment. The news, which was announced earlier this year, detailed that Netflix would be raising prices across all of its plans by 13 to 18 percent.