Yahoo will also share in some potential liabilities related to two massive data breaches Verizon Communications will pay US$350 million less for Yahoo after two major data breaches reported by the struggling internet pioneer.Verizon will pay about $4.48 billion for Yahoo’s operating business, and the two companies will share any potential legal and regulatory liabilities arising from two major data breaches announced in late 2016. The companies announced the amended terms of the deal Tuesday.Back in October, one news report had Verizon seeking a $1 billion discount after the first breach was announced.The new terms “provide a fair and favorable outcome for shareholders,” Marni Walden, Verizon’s executive vice president and president of Product Innovation and New Businesses, said in a press release. The deal still makes sense, however, Walden added. The deal brings “Yahoo’s tremendous talent and assets into our expanding portfolio in the digital advertising space,” she said.Yahoo continues to deal with the fallout from the two breaches, one affecting 500 million user accounts and the second affecting 1 billion. Just last week, Yahoo sent out warning letters to users saying their accounts may have been compromised through a forged cookie scheme apparently related to the 500 million account breach announced last September. Verizon first announced plans to buy most of Yahoo’s assets for $4.8 billion last July. Under the new terms, Yahoo will be responsible for half of any liabilities related to the breach from third-party lawsuits and from government investigations, outside of the U.S. Securities and Exchange Commission. Those potential liabilities were not addressed in the original acquisition announcement, which happened before the breaches were reported.Liabilities arising from shareholder lawsuits and SEC investigations will continue to be Yahoo’s responsibility.The companies expect the deal to close in the second quarter.What do you think of the discounted rate? Add your comments to our Facebook page. Related content feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Mergers and Acquisitions Mergers and Acquisitions brandpost Unmasking ransomware threat clusters: Why it matters to defenders Similar patterns of behavior among ransomware treat groups can help security teams better understand and prepare for attacks By Joan Goodchild Sep 21, 2023 3 mins Cybercrime news analysis China’s offensive cyber operations support “soft power” agenda in Africa Researchers track Chinese cyber espionage intrusions targeting African industrial sectors. By Michael Hill Sep 21, 2023 5 mins Advanced Persistent Threats Cyberattacks Critical Infrastructure brandpost Proactive OT security requires visibility + prevention You cannot protect your operation by simply watching and waiting. It is essential to have a defense-in-depth approach. By Austen Byers Sep 21, 2023 4 mins Security Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe