Verizon reconsidering Yahoo deal after 1 billion accounts hacked
Yahoo can’t seem to catch a break with cyber security, as the company has revealed a new hack that has exposed more than 1 billion Yahoo accounts. That’s several orders of magnitude larger than the 2014 hack, which exposed around 500m accounts and details. Now according to a new report from Bloomberg, Verizon is considering backing out of its planned acquisition of the web property.
The deal was supposed to be for $4.83 billion, but the report states that Verizon might consider a price cut or potentially end the deal completely. Yahoo’s stock has suffered in the wake of the news of the hack, falling 2% overnight and down a total of 5% by mid-day on Thursday morning.
Yahoo’s information on this new hack says the data breach occurred in August 2013 and involved data from nearly one billion user accounts. Here’s Verizon’s statement on the matter:
“As we’ve said all along, we will evaluate the situation as Yahoo continues its investigation. We will review the impact of this new development before reaching any final conclusions.”
Sources have told CNBC that there is no state of panic at Verizon, but we’re betting the attitude is a bit different at Yahoo.