Yahoo Japan to get trademark rights for Yahoo brand for ¥178 bil
Yahoo Japan Corp said Monday it will acquire trademark rights related to the use of the Yahoo brand in Japan for 178.5 billion yen ($1.6 billion) from a subsidiary of U.S. Verizon Media to enhance its corporate value.
The deal will enable the internet and e-commerce giant to use the Yahoo brand and licensed technology in Japan without paying royalties, while also giving its operator Z Holdings Corp "greater flexibility" in using the brand and in the development of its businesses.
A new license agreement will take effect after U.S. investment firm Apollo Global Management Inc. completes its acquisition of Verizon Media expected in the second half of 2021, Yahoo Japan and Z Holdings said in their press releases.
Verizon announced in May it will be acquired by Apollo.
Yahoo Japan was co-founded by Yahoo Inc and SoftBank Corp, the current SoftBank Group Corp, in 1996 and has paid parts of its revenues to the U.S. firm.
Z Holdings, a SoftBank Group subsidiary, merged in March with messaging app provider Line Corp to expand their online services globally as they aim to better compete with U.S. and Chinese tech giants.
Source: japantoday.com
