AOL Inc and Yahoo Inc are to combine into a unit called Oath after telecom titan Verizon buys the pioneering Internet firm, according to a tweet on Monday by AOL chief executive officer Tim Armstrong.
Confirmation of the new name was tweeted from Armstrong’s account after reports of the name leaked in US media reports.
“Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017,” the Twitter post read.
A price cut early this year kept Verizon on track to consummate the purchase of Yahoo’s Internet business and share the costs from a pair of hacks that threatened to derail the deal.
Yahoo slashed the price of its core Internet business by US$350 million, and under revised terms of the delayed deal, Verizon’s purchase of Yahoo’s assets is to total US$4.48 billion.
Yahoo in September last year announced that hackers in 2014 stole personal data from more than 500 million of its user accounts and in December it admitted to another cyberattack from 2013 affecting more than a billion users.
The US Department of Justice last month charged two Russian intelligence operatives and a pair of hackers over one of the largest cyberattacks in history, which had apparent twin goals of espionage and financial gain.
The Kremlin denied any official Russian involvement in cybercrimes after the US indicted two Russian Federal Security Service intelligence agents over cyberattacks on Yahoo that compromised 500 million accounts.
Under the terms of the revised acquisition agreement, Yahoo would continue to cover the cost of a US Securities and Exchange Commission probe into the breaches, as well as shareholder lawsuits.
However, other government investigations and third-party litigation related to the hacks are to be shared by Verizon and Yahoo.
The deal with Verizon is expected to close by July and would end Yahoo’s run of more than 20 years as an independent company.
Yahoo is selling its main operating business as a way to separate it from its more valuable stake in Chinese Internet giant Alibaba Group (阿里巴巴), which would become a new entity to be renamed Altaba Inc and would act as an investment company.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
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Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
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