iWorld
Verizon acquires AOL for $4.4 billion
MUMBAI: Taking another significant step in building digital and video platforms to drive future growth, Verizon Communications Inc. has acquired AOL Inc. for an estimated total value of approximately $4.4 billion.
AOL chairman and CEO Tim Armstrong will continue to lead AOL operations after closing.
Verizon’s acquisition further drives its LTE wireless video and OTT (over-the-top video) strategy. The agreement will also support and connect to Verizon’s IoT (Internet of Things) platforms, creating a growth platform from wireless to IoT for consumers and businesses.
The combination of Verizon and AOL creates a scaled, mobile-first platform offering directly targeted at what eMarketer estimates is a nearly $600 billion global advertising industry. AOL’s key assets include its subscription business; its premium portfolio of global content brands, including The Huffington Post, Tech Crunch, Engadget, MAKERS and AOL.com, as well as its millennial-focused OTT, Emmy-nominated original video content; and its programmatic advertising platforms.
Verizon chairman and CEO Lowell McAdam said, “Verizon’s vision is to provide customers with a premium digital experience based on a global multiscreen network platform. This acquisition supports our strategy to provide a cross-screen connection for consumers, creators and advertisers to deliver that premium customer experience.”
“AOL has once again become a digital trailblazer, and we are excited at the prospect of charting a new course together in the digitally connected world. At Verizon, we’ve been strategically investing in emerging technology, including Verizon Digital Media Services and OTT, that taps into the market shift to digital content and advertising. AOL’s advertising model aligns with this approach, and the advertising platform provides a key tool for us to develop future revenue streams,” he added.
Armstrong said, “Verizon is a leader in mobile and OTT connected platforms, and the combination of Verizon and AOL creates a unique and scaled mobile and OTT media platform for creators, consumers and advertisers. The visions of Verizon and AOL are shared; the companies have existing successful partnerships, and we are excited to work with the team at Verizon to create the next generation of media through mobile and video.”
The transaction will take the form of a tender offer followed by a merger, with AOL becoming a wholly owned subsidiary of Verizon upon completion.
The transaction is subject to customary regulatory approvals and closing conditions and is expected to close this summer.
Verizon expects to fund the transaction from cash on hand and commercial paper. The company also continues to expect to return to pre-Vodafone transaction credit ratings in the 2018-2019 timeframe.
Transaction advisers for Verizon were Lion Tree Advisors; Guggenheim Partners; and Weil, Gotshal&Manges. AOL advisers were Allen & Company LLC and Wachtell, Lipton, Rosen & Katz.
e-commerce
Samsung Galaxy S26 series now available for instant delivery on Instamart
AI powered flagship phones start at Rs 87,999 with launch offers up to Rs 9,000.
MUMBAI: In the age of quick commerce, even flagship smartphones are learning to arrive at your doorstep at lightning speed. Instamart has partnered with Samsung to make the newly launched Galaxy S26 series available for instant purchase on the quick commerce platform, expanding the category beyond groceries and daily essentials into premium consumer electronics.
The Galaxy S26 lineup, which includes the S26 Ultra, S26+ and S26, is now available across several major Indian cities including Bangalore, Mumbai, Delhi, Hyderabad, Chennai, Kolkata, Ahmedabad and Pune, among others.
The flagship series introduces several new features, led by what Samsung describes as the world’s first built in Privacy Display on a smartphone, available exclusively on the Galaxy S26 Ultra. The display is designed to enhance privacy while unlocking a new class of screen experiences.
The devices also integrate agentic artificial intelligence designed to quietly manage routine tasks in the background, allowing users to focus on more meaningful interactions with their device.
Positioned as a major step forward in AI powered smartphones, the Galaxy S26 Ultra also introduces enhancements in areas such as nightography photography and Photo Assist tools, aimed at improving low light imaging and AI driven creative editing.
Through the partnership, Instamart is extending its quick commerce proposition to high value electronics, allowing customers to order the Galaxy S26 series and receive it almost instantly once sales go live.
The Galaxy S26 series will be available starting at Rs 87,999. As part of the launch offers on Instamart, customers can avail an instant discount of up to Rs 9,000 using an HDFC Bank credit card. Buyers can also opt for No Cost EMI options for up to 9 months.
The move reflects the growing overlap between quick commerce and consumer electronics, as platforms race to deliver not just groceries but also premium technology products with the same promise of speed and convenience.
