Security breaches cost Yahoo dearly as Verizon reveals amended terms of acquisition

Yahoo's frankly terrible track record with security just cost the company $350 million. Having originally offered to buy the company for $4.83 billion, Verizon has now revealed that it is dropping its offer to $4.48 billion. The announcement from Verizon comes just days after it was rumored that the company was thinking of lowering its offer by $250 million in the wake of a security breaches suffered by Yahoo. The two companies have also agreed to share "certain legal and regulatory liabilities arising from certain data breaches." The deal between the two companies is still expected to close in the… [Continue Reading]