Channel Beat: Verizon Backing Out Of Yahoo Acquisition?

Verizon may be backing out of its planned acquisition of Yahoo following the company's disclosure of a massive security breach this week.

This week Yahoo confirmed that in August 2013, 1 billion user accounts were hacked for personal information.

Now, Verizon is reportedly considering calling off its planned $4.83 billion acquisition of Yahoo.

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Yahoo suffered another large-scale data breach in 2014, which affected more than 500 million users' accounts.

This week IBM CEO Ginni Rometty pledged that the company will create 25,000 U.S. jobs over the next four years.

Rometty wrote a piece in USA Today that announced a $1 billion investment in employee development. IBM plans to hire 6,000 new employees next year.

IBM has been restructuring its workforce in recent years as its shifts to cloud-based business models, resulting in some global workforce layoffs.

This week Cisco confirmed it will discontinue its Intercloud Services in March 2017, after three years of operation.

Cisco launched Intercloud as a competitor against public cloud giant Amazon Web Services.

Cisco partners say the competition from AWS and Microsoft Azure proved to be too great for Cisco. AWS is now a $12 billion public cloud business, and continues to grow rapidly.

Cisco is now pivoting its cloud strategy toward helping customers build and manage hybrid IT environments.