Yahoo sold to Verizon, the US telecom giant

Yahoo, the US internet company is being acquired by Verizon in a deal thought to cost almost £3.8 billion.

This follows Verizon’s purchase of AOL last year, and further strengthens Verizon’s plans to become a global mobile media company.

The offer for the deal is well below the approximate £33.6 billion Microsoft were set to offer in 2008, and vastly different to the £95.6 billion the company was worth during the boom.

The takeover is due to complete in early 2017, will enable Verizon to gain access to the internet company’s c600 million monthly active mobile users, in addition to its email service, Tumblr and Yahoo Finance.

Verizon’s purchase of AOL for its programmatic advertising technologies enabled the company to further leverage its vast amount of data earned from its smartphone users.

As a leading US mobile phone network with a wealth of data and a stronger ability to mine it through its new acquistions, it certainly seems Verizon is looking to challenge the likes of Google and Facebook in the mobile advertising market.