By Sam Nussey
TOKYO – SoftBank’s web enterprise Z Holdings Corp stated on Monday it has agreed to pay Verizon Communications Inc 178.5 billion yen ($1.61 billion) to safe the rights to Yahoo branding and know-how in perpetuity in Japan.
In distinction to the retreat of Yahoo in america, the model stays a core a part of SoftBank’s home web enterprise the place the identify adorns an online portal and companies like procuring and climate.
Verizon is offloading https://www.reuters.com/know-how/apollo-acquire-verizons-media-assets-5-bln-2021-05-03 its media companies together with Yahoo and AOL to personal fairness agency Apollo International after struggling to compete with web giants in a $5 billion deal set to shut within the second half of this yr.
Beforehand referred to as Yahoo Japan, SoftBank’s web enterprise rebranded as Z Holdings and is betting on companies reminiscent of funds app PayPay https://www.reuters.com/enterprise/finance/softbanks-paypay-surges-ahead-japans-digital-payments-race-2021-06-11 and chat app Line for development in Japan and Southeast Asia.
($1 = 110.9800 yen)
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