(credit: Photograph by Randy Stewart ) Yahoo, one of the Internet’s most venerable companies, won’t exist for much longer. Verizon confirmed plans to acquire Yahoo for $4.8 billion in July , and a new financial filing from Yahoo includes details of what’s going to happen next. However, Verizon has promised that—if the increasingly bumpy buyout completes—the Yahoo brand will live on. July’s proposed sale included the firm’s operating business, but it didn’t include the big chunk of Chinese e-commerce site Alibaba owned by Yahoo, and it didn’t include certain other assets, mostly shares of Asia-based companies and non-core patents. What remains, according to SEC paperwork filed on Monday, will be rolled into a publicly-traded investment company called Altaba. The size of the board will be reduced to five directors, and many key executives will leave, including—as expected—Yahoo CEO Marissa Mayer and Yahoo co-founder David Filo. Also out are Eddy Hartenstein, Richard Hill, Jane Shaw, and Maynard Webb. The departures are not “due to any disagreement with the company on any matter relating to the company’s operations, policies, or practices,” Yahoo’s filing said. Read 4 remaining paragraphs | Comments
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Yahoo to change name to Altaba once Verizon buys brand and operations
An anonymous reader shares a TechCrunch report: Atlassian today announced that it has acquired project management service Trello for $425 million. The vast majority of the transaction is in cash ($360 million), with the remainder being paid out in restricted shares and options. The acquisition is expected to close before March 31, 2017. This marks Atlassian’s 18th acquisition and, as Atlassian president Jay Simons noted, it is also the largest. Just like with many of Atlassian’s other acquisitions, the company plans to keep both the Trello service and brand alive and current users shouldn’t see any immediate changes. Read more of this story at Slashdot.