Yahoo and AOL, the two biggest companies which ruled the internet world once upon a time, will be merged together to form a new brand by name 'Oath'.
Yes, as they saw a huge fall in the market and could not stand anywhere, the US telecom giant, Verizon acquired both of them. As a united company, there is a new hope for them to rise again after watching a sudden drop in its strategy. The Verizon Communications is said to create this new company Oath after the completion of the acquisition of Yahoo and AOL.
Though Verizon does not provide more information about this, it is expected that both the Yahoo and AOL brands will survive until then. One can also find the tweet regarding this made by Tim Armstrong, AOL's top executive which says that the newborn company will manage more than 20 different brands.
The US telecom giant seems to be dependent on these two pioneers to help it sell some more digital ads. With lots of initial complications, finally, Yahoo agreed to sell its online operations to the telecom company.
Though Yahoo made an agreement for $4.8 billion at first, later they had to slash this amount because of the two hacking attacks which greatly damaged the company's reputation. Those two hacks stole personal information of more than 1 billion user accounts.
This, in turn, made people lose trust in this company. One can also call it as a major setback for them. Later, Verizon's plan to acquire them raised the eyebrows of many other industries. It is planning to manage Yahoo's email and few other online operations for sometimes now.
Once this deal gets closed, Other sectors like Yahoo's cash and lucrative stakes in Asian internet companies Alibaba Group and also Yahoo Japan will be under control of the new company called Altaba.