Menu
Verizon signals Yahoo data breach may affect acqusition

Verizon signals Yahoo data breach may affect acqusition

Yahoo says its still confident in the company's value

Verizon has signaled that Yahoo's massive data breach may be enough reason to halt its US$4.8 billion deal to buy the internet company.

On Thursday, Verizon's general counsel Craig Silliman said the company has a "reasonable basis" to believe that the breach involving 500 million Yahoo accounts has had a material impact on the acquisition. This could give the company room to back out or get a large discount.

"We're looking to Yahoo to demonstrate to us the full impact," he added. "If they believe that it's not, then they'll need to show us that."

In response, Yahoo said, "We are confident in Yahoo’s value and we continue to work towards integration with Verizon."

Verizon has declined to comment beyond Silliman's statement. Reportedly, the company was seeking a $1 billion discount on its purchase of Yahoo, claiming that the internet firm had diminished in value since the data breach.

The breach, which Yahoo announced in September, occurred back in 2014. Account details including email addresses, hashed passwords, and phone numbers may have been stolen as result. However, Verizon only learned about the hacking incident two days before Yahoo publicly disclosed it.

On Monday, Verizon's CEO Lowell McAdam reportedly said despite the breach, his company still sees Yahoo as a valuable asset.

“The industrial logic to doing this merger still makes a ton of sense,” he said, according to the Wall Street Journal. “I have spent a lot of time over the past weeks with folks from Yahoo, and I am very impressed by their capability.”

Yahoo has blamed the breach on a state-sponsored actor, without naming the country involved. The FBI is also investigating, and law enforcement officials believe the hacking is consistent with that of nation states.


Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags Yahoo

Featured

Slideshows

Kiwi channel comes together for another round of After Hours

Kiwi channel comes together for another round of After Hours

The channel came together for another round of After Hours, with a bumper crowd of distributors, vendors and partners descending on The Jefferson in Auckland. Photos by Maria Stefina.​

Kiwi channel comes together for another round of After Hours
Consegna comes to town with AWS cloud offerings launch in Auckland

Consegna comes to town with AWS cloud offerings launch in Auckland

Emerging start-up Consegna has officially launched its cloud offerings in the New Zealand market, through a kick-off event held at Seafarers Building in Auckland.​ Founded in June 2016, the Auckland-based business is backed by AWS and supported by a global team of cloud specialists, leveraging global managed services partnerships with Rackspace locally.

Consegna comes to town with AWS cloud offerings launch in Auckland
Veritas honours top performing trans-Tasman partners

Veritas honours top performing trans-Tasman partners

Veritas honoured its top performing partners across the channel in Australia and New Zealand, recognising innovation and excellence on both sides of the Tasman. Revealed under the Vivid lights in Sydney, Intalock claimed the coveted Partner of the Year 2017 (Pacific) award, with Data#3 acknowledged for 12 months of strong growth across the market. Meanwhile, Datacom took home the New Zealand honours, with Global Storage and Insentra winning service provider and consulting awards respectively. Dicker Data was recognised as the standout distributor of the year, while Hitachi Data Systems claimed the alliance partner award. Photos by Bob Seary.

Veritas honours top performing trans-Tasman partners
Show Comments