Verizon is preparing to buy Yahoo for $4.83 billion in a deal the wireless provider expects to be completed by early 2017.
Yahoo’s online brands, ad service, email service, analytics services, and its 1 billion users will all be included in the acquisition.
Yahoo CEO Marissa Mayer wrote in a letter that the deal “will help us achieve tremendous scale on mobile,” adding that Verizon “opens the door to extensive distribution opportunities.”
She added, “I’m incredibly proud of everything that we’ve achieved, and I’m incredibly proud of our team. For me personally, I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter.”
Yahoo will continue to operate independently until the deal is finalized, which Verizon hopes will take place in the first quarter of next year.