Yahoo! Expects Verizon Sale To Close Q2 2017

Yahoo! now expects its sale to Verizon of its core businesses to close in the second quarter of 2017, the company said Monday.

In its quarterly filing, Yahoo! updated investors on the targeted close date for Verizon’s acquisition. While the sale was originally slated to close in the first quarter of 2017, the search company has readjusted its initial projections.

“Yahoo! has continued to work with Verizon on integration planning for the sale of its core business… the company is working expeditiously to close the transaction as soon as practicable in Q2.” Yahoo!’s statement said.

While Yahoo!’s $4.8 billion sale to Verizon last July initially went without issues, the search company is dealing with the fallout from two major user data hacks that were disclosed last year. In September, the search company revealed 500 million accounts were breached in 2014. Available data in the hack included email addresses, phone numbers and other personal user information. Yahoo! confirmed a separate 2013 data breach in December that affected an additional 1 billion users.

In the aftermath of the initial hacking news, Yahoo! was the target of lawsuits and attention from several U.S. senators. The Securities and Exchange Commission will also launch a probe into Yahoo’s late disclosure of both hacks. Verizon declined to comment about Yahoo!’s updated projection for its sales close date.