AOL and Yahoo! to become Oath
AOL and Yahoo! Remember them? Two of the oldest internet firms are about to be owned (once the acquisition of Yahoo! completes) by US telecoms giant Verizon and are to be merged into a new brand, Oath.
In a deal announced last year, Verizon will acquire Yahoo’s core internet business for around $4.8 billion (who said the internet bubble had burst?).
AOL chief executive Tim Armstrong went on Twitter to confirm the merger of the two brands, complete with a new logo (we’d love to know how much they paid for that!?!).
It’s rumoured that Oath will just be an umbrella company and that AOL, Yahoo! (and Huffington Post – also owned by Verizon) will continue to operate using their original brands.
What does this mean for the rest of the world outside Silicon Valley? Not a lot but, as with all these acquisitions and mergers, it might be an idea to get a new email provider if you’re still using AOL or Yahoo! – you never know what Verizon will do in the future.
For those wondering where the new name came from, we can only suggest the brand ‘experts’ didn’t do too much research…