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Date: 2017-01-10 09:29:38 By: Edgar Via: Redacción Starmedia

Yahoo changes it's name to Altaba Inc.

Yahoo is making some changes as it prepares for the timing of its acquisition by Verizon.

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Yahoo is making some changes as it prepares for the timing of its acquisition by Verizon.

Yahoo is making some last minute changes to make its sale to Verizon ready, including a name change (now called Altaba Inc.) and its CEO Marissa Mayer has resigned.

Although last July 2016 Verizon agreed to acquire Yahoo, what they are buying is the search engine and online services. The investment division of Yahoo will remain as a new company that will change its name to Altaba. This division currently owns 16% of Asian online sales company Alibaba.

The documents assure that Mayer, like other members of the board, will have to give up when the acquisition is complete. It is not clear if Mayer will have any position in the new company that will be formed or will completely disconnect from the company.

Verizon paid just $ 4.8 billion for the purchase of Yahoo, a figure that may sound quite high but when we talk about a company with so much history and legacy on the Internet is very short. The acquisition was recently in jeopardy after Yahoo revealed that it had been hit by a hacking that affected billions of users.

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Yahoo changes it's name to Altaba Inc.