Verizon’s initial offer of $4.8 billion has been taken off the table and reduced by about $250 million, according to a report released Wednesday on Bloomberg, with some even claiming the figure is as much as $350 million off.
In addition to a reduction on the asking price, Verizon and the sooner to be repackaged version of Yahoo, Altaba, will split the breach fallout costs 50/50. The advised agreement is said to be announced soon.
This bumpy acquisition first started back in July 2016 and was originally scheduled to be completed by Q1 2017, but given the unprecedented amount of data breaches Yahoo disclosed over the last 6 months, the deal was put on hold for renegotiation and now scheduled to be completed Q2 2017.
Unsurprisingly, Yahoo made yet another to users advising that accounts may have been compromised while placing the blame on the same “same sponsored actor” behind the 2013 and 2014 breaches. Yahoo claims hackers used ‘forged cookies’- pieces of code that stay in the user’s browser cache allowing a website to not require a login with every visit.
The information compromised includes the email addresses, passwords, and dates of birth of over a billion users.
These data breach ‘warnings’ have become all too common, and in many cases do not serve as a warning at all. When breaches occurred over four years ago, the damage done by a hacker has already been done.
Mike Overly with Folder & Lardner claims, “This trickling out of breach notices undermines the whole purpose of breach notification laws: afford consumers the ability notice such as they can act to protect their identities. When months and sometimes years pass, that purpose cannot be fulfilled and the breach notification becomes a useless fiction.”
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