And that’s really news. Really a breaking news at the Seattle and Silicon Valley. Let’s see how this one develops.
From NY Times –
Microsoft said the combination of the two companies would create efficiencies that would save approximately $1 billion annually. The software giant also said that it has an integration plan to include employees of both companies and intends to offer incentives to retain Yahoo employees.
“We have great respect for Yahoo, and together we can offer an increasingly exciting set of solutions for consumers, publishers and advertisers while becoming better positioned to compete in the online services market,” said Steven A. Ballmer, Microsoft’s chief executive, in a statement.
Yahoo’s shares are at a 4 year low at $19/share. And their market cap as of today is around $ 25.6 billion. But here is an important backdrop to this – Yahoo to Cut 1,000 Jobs, and Warns on Growth.