The completion of the Yahoo acquisition marks the end of the line for the firm as a standalone internet company. Photo: ReutersBengaluru/Washington: Verizon Communications Inc. said on Tuesday it closed its $4.48 billion acquisition of Yahoo Inc.’s core business and that Marissa Mayer, chief executive of the internet company, had resigned. The completion of the acquisition marks the end of the line for Yahoo as a standalone internet company, a storied tech pioneer once valued at more than $100 billion. “Given the inherent changes to my role, I’ll be leaving the company,” Mayer wrote in an email to employees on Tuesday that she also posted on Tumblr. Yahoo cut 15 percent of its workforce last year and AOL cut 500 jobs.

Source: Mint June 13, 2017 17:15 UTC