M&A Deal Summary

Apollo Global Management Acquires Yahoo!

On May 3, 2021, asset manager Apollo Global Management acquired internet software and services company Yahoo! from Verizon Communications for 5.0B USD

Acquisition Highlights
  • This is Apollo Global Management’s 4th transaction in the Internet Software and Services sector.
  • This is Apollo Global Management’s 14th largest (disclosed) transaction.
  • This is Apollo Global Management’s 76th transaction in the United States.
  • This is Apollo Global Management’s 10th transaction in California.

M&A Deal Summary
Date 2021-05-03
Target Yahoo!
Sector Internet Software and Services
Buyer(s) Apollo Global Management
Sellers(s) Verizon Communications
Deal Type Divestiture
Deal Value 5.0B USD

Target

Yahoo!

Sunnyvale, California, United States
Entrance to Yahoo's corporate campus in Sunnyvale, California.
Entrance to Yahoo's corporate campus in Sunnyvale, California.
Yahoo! is a provider of internet search tools, content, and communication services. The Company was formed in 1994 and is based in Sunnyvale, California.

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Buyer(S) 1

Buyer

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 107 of 140
Sector (Internet Software and Services) 4 of 4
Type (Divestiture) 22 of 26
State (California) 10 of 16
Country (United States) 76 of 101
Year (2021) 9 of 20
Size (of disclosed) 14 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-30 Standard Industries

New York, New York, United States

Standard Industries is a global industrial company. The Standard ecosystem spans a broad array of holdings, technologies and investments—including both public and private companies from early to late-stage—as well as world-class building materials assets and next-generation solar solutions. Standard Industries is based in New York city.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-13 Smart & Final

Commerce, California, United States

Smart & Final is an operator of the smaller stores, warehouse-style, no membership fee, multi-format retailer serving both households and smaller businesses with a strong value proposition. Smart & Final operates 257 stores under its Smart & Final banner, which offer quality products in a variety of sizes, saving customers time and money without a membership fee. Its larger format stores, Smart & Final Extra! stores, combine the warehouse store with traditional grocery offerings like farm-fresh produce and natural and organic options, to provide a one-stop-shop for all. Smart & Final was founded in 1871 and is based in Commerce, California.

Sell $620M

Seller(S) 1

SELLER

Verizon Communications

New York, New York, United States
Category Company
Founded 1983
Sector Communications
Employees104,400
Revenue 134.0B USD (2023)
DESCRIPTION
Verizon storefront in New York City.
Verizon storefront in New York City.

Verizon Communications is a provider of communications, information, and entertainment products and services to consumers, businesses and governmental agencies. Verizon offers voice, data and video services and solutions on wireless and wireline networks that are designed to meet customers’ demand for mobility, network connectivity, security and control. Verizon Communications was founded in 1983 and is based in New York City.

DEAL STATS #
Overall 11 of 13
Sector (Internet Software and Services) 1 of 1
Type (Divestiture) 10 of 12
State (California) 1 of 2
Country (United States) 11 of 13
Year (2021) 1 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-19 Bluegrass Cellular

Elizabethtown, Kentucky, United States

Bluegrass Cellular provides wireless service to 210,000 customers in 34 counties in rural service areas 3, 4 and 5 in central Kentucky.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 Senion

Linköping, Sweden

Senion is a provider in indoor positioning solutions, bringing a seamless, responsive, and consumer-friendly foundation for location-based services applications. Senion comprehensive IPS services include analytics, wayfinding, geofencing, friend finder and tracking. Senion was founded in 2010 and is based in Linköping, Sweden.

Buy -
Mergr

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