Verizon Communications Inc. has agreed to pay $4.8 billion to acquire Yahoo Inc., according to a person familiar with the matter, ending a drawn-out auction process for the beleaguered internet company.
The price tag, which includes Yahoo’s core internet business and some real estate, is a remarkable fall for the Silicon Valley web pioneer that once had a market capitalization of more than $125 billion at the height of the dot-com boom.
For New York-based Verizon, the deal simply adds another piece to the digital media and advertising business it is trying to build.
The deal is expected to be announced early Monday. The news was earlier reported by Recode and Bloomberg.
Verizon plans to keep the Yahoo brand, according to a person familiar with its plans.