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Verizon recalls 2.5 million Ellipsis Jetpack mobile hotspots

The lithium ion battery in the hotspots can overheat

Verizon is recalling about 2.5 million Ellipsis Jetpack mobile hotspots.

The lithium ion battery in the hotspots can overheat, posing fire and burn hazards.

The firm has received 15 reports of devices overheating, including six reports of fire damage to bedding or flooring and two reports of minor burn injuries.

This recall involves Ellipsis Jetpack mobile hotspots imported by Franklin Wireless Corp.

The recalled Jetpacks are dark navy plastic oval devices that are about 3....

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    Verizon finally closes on acquisition of Yahoo

    Experts say around 2,100 employees will lose their jobs in the transition

    The long-awaited acquisition deal of Yahoo by Verizon finally reached a conclusion on Thursday after Yahoo shareholders approved the sale of the business. That means on Tuesday, Yahoo will officially become Altaba, which will take the cash from the sale and Yahoo’s holdings in Yahoo Japan and Alibaba group.

    Unfortunately, the closing of the deal isn’t going to be good news for everyone. TechCrunch reports that Verizon will cut around 15% of the staff from Yahoo and AOL after the merger closes, eliminating around 2,100 redundant jobs between the companies. The new combined entity, named Oath, will be headed by AOL CEO Tim Armstrong.

    “Oath’s strategy is to lead the global brand space. With access to over 1 billion consumers upon close, we will be positioned to drive one of the most important platforms in the consumer brand space. Consistent with what we have said since the deal was announced, we will be aligning our global organization to the strategy,” said an AOL spokesperson.

    Long road

    Verizon’s acquisition of Yahoo faced many bumps in the road on its way to finality. An initial deal was struck between the companies last July for $4.8 billion, but the waters were muddied after news broke that Yahoo had experienced two large-scale data breaches affecting over 1.5 billion user accounts.

    Verizon executives immediately backed off from the deal, saying that they needed more information about the breaches before the deal could continue. Rumors even circulated for some time that the company was seeking a $1 billion discount on its purchase.

    Pressure from shareholders mounted for both companies, and eventually Verizon settled for a price cut of around $350 million and a promise that Yahoo would share responsibility for any legal ramifications connected to the breaches.  

    After the vote on Thursday, the New York Times reports that Yahoo’s share price rose by $5.16, closing at $55.71. That’s at least some relief to the Yahoo employees who will lose their jobs in the transition, since it will increase the payouts they’ll earn on stock options.

    The long-awaited acquisition deal of Yahoo by Verizon finally reached a conclusion on Thursday after Yahoo shareholders approved the sale of the business....

    Verizon to name Yahoo/AOL merger 'Oath'

    The entity will be created pending a successful acquisition deal

    You could say that Yahoo has been having a rough time of it lately. Two massive data breaches totaling over 1.5 billion in 2016 have mired it in a PR nightmare that initially put its acquisition by Verizon in a very tenuous position.

    However, despite the experts who spelled doom for the deal, Yahoo continued business as usual, going as far as to come up with a new name for core internet business that would be left over after a successful acquisition. The new company, called Altaba, would be made up primarily of Yahoo Japan and popular Chinese online marketplace Alibaba.

    Although the deal has yet to be finalized, it seems that Verizon is also getting in on the naming action. The company plans to merge the newly acquired Yahoo business with AOL and call it Oath. AOL CEO Tim Armstrong confirmed the new name in a Twitter post this Monday afternoon.

    The newly formed entity will reportedly take Yahoo’s search, mail, content, and ad-tech business and combine it with AOL’s existing internet business under Marni Walden, executive vice president and president of product innovation and new businesses. Company officials believe that the new division will allow it to make a splash in the digital advertising market.

    "In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital," said an AOL spokeswoman.

    The Yahoo/Verizon acquisition deal is slated to close sometime in the second quarter of 2017, possibly sometime within the next month. If the deal doesn’t close by April 24th, the parties will be able to seek a three-month extension, or it can be terminated outright. 

    You could say that Yahoo has been having a rough time of it lately. Two massive data breaches totaling over 1.5 billion in 2016 have mired it in a PR night...