【Unlocking Word Meanings】
Read the following words/expressions found in today’s article.
1. quest / kwɛst / (n.) – a mission to achieve something
Example: The company bought the restaurant chain in its quest to enter the food business.
2. acquisition /ˌæk wəˈzɪʃ ən / (n.) – the act of obtaining another business
Example: Their acquisition of a smaller company provided more financial opportunities.
3. culmination / ˌkʌl məˈneɪ ʃən / (n.) – the highest point of something
Example: Her promotion is the culmination of years of hard work.
4. propose / prəˈpoʊz / (v.) – to make a suggestion
Example: I will propose a unique concept to the client.
5. subsidiary / səbˈsɪd iˌɛr I / (n.) – a business that is under another company
Example: The radio station is a subsidiary of a major broadcasting network.
Read the text below.
Search engine Yahoo has ended its run as an independent company after it closed a deal with technology company Verizon.
In its quest to expand its business, Verizon’s acquisition of Yahoo will reportedly sum up to $4.8 billion. Apart from obtaining the Yahoo brand, the deal also includes Yahoo’s e-mail services, online ad operations, and other web features. The transaction will also entail Yahoo’s merge with American media company AOL, which Verizon bought in the previous year.
Available in over 50 countries, Yahoo started in 1994 as part of a website list created by Jerry Yang and David Filo, who were students of Stanford University. The company, which specializes in information, communication, and entertainment, has several online services under its name, such as Yahoo Mail, Yahoo Messenger, Yahoo News, Yahoo Lifestyle, and blogging site Tumblr, to name a few.
Founded in 2000, Verizon develops global networks and information systems for the culmination of businesses and communities. The company started the Powerful Answers Award in 2013 to motivate entrepreneurs to propose effective action plans for different issues in society.
Despite Yahoo’s reputation as an industry leader, research firm eMarketer’s forecast of Yahoo’s share showed a 1.5% decrease in 2015, and a further decrease of 1.3% in the current year. However, its wide user database can contribute to Verizon’s customer reach.
Although Yahoo is reported to change its name upon becoming a subsidiary of Verizon, Yahoo Japan Corp. will be retaining its name while pushing through with its services.
Enjoy a discussion with your tutor.
· Do you think that Verizon’s acquisition of Yahoo was a good move? Why or why not?
· What are the positive effects of an acquisition to both the acquirer and acquiree?
· If you were the owner of a business, would you consider selling it to another company? Why or why not?
· In what industries are acquisitions common? Please explain.