on June 13, 2017
Verizon is one of the world’s leading communication companies. The company has many subsidiaries and through them, it provides services, entertainment, information and communication products to the customers. The segments of Verizon include Wireline and Wireless. Wireline is for video, data and voice products and Wireless is for wireless data and voice equipment services. Verizon was founded in 1983 and was formerly known as Bell Atlantic Corporation. The exact founder of the company is unknown, however, the current CEO of Verizon is Lowell C. McAdam. It has 160,900 employees and has an annual revenue of $126 billion.
The headquarters of Verizon is located in Midtown Manhattan, New York City but Delaware is the place where it is incorporated. In 1996, Bell Atlantic decided to merge with NYNEX. This made it the second largest telecommunications company. After that, in 2000, Verizon made its first ever acquisition of company GTE for $64.7 billion. This acquisition was big because Verizon became largest local telephone operating company in the United States after that. The acquisition also gave the company 25 million mobile phone users, which added to the huge assets of the successful company.
Verizon’s next big acquisition was MCI in 2006 for $7.6 billion. This gave the company access to MCI’s international holdings and corporate clients, which led Verizon to penetrate the international markets.
In 2015, Verizon acquired AOL for $4.4 billion. It was one of the most brilliant Verizon acquisitions. With that, Verizon created a few digital platforms for partners, advertisers and consumers. Another successful deal was closed by the company for $4.83 billion, in which it acquired Yahoo’s operating business. Verizon now runs both AOL and Yahoo under a division called Oath.
In 2016, Verizon purchased Fleetmatics for $2.4 billion. The most recent acquisition by Verizon is the fiber-optics assets of WideOpenWest for $225 million.
You can check out all Verizon acquisitions here: