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SEC Watch: Yahoo Purchased Maktoob For $164 Million; By The Numbers

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Yahoo (NSDQ: YHOO) acquired Arab portal Maktoob for $164 million in cash last fall—almost double the amount that had previously been reported, according to the company’s 10K, which was just filed with the SEC.

The filing includes other details about the company’s purchases and divestments. Among them: Yahoo says it spent $30 million on two other acquisitions last year (That figure would include Xoopit, which it bought for a reported $20 million in July; unclear what the other company is). Yahoo also generated net proceeds of $120 million by selling its stake in Korean auction business Gmarket to eBay (NSDQ: EBAY) and $145 million from selling its investment in Alibaba.com.

Restructuring bills: Yahoo says that in total it incurred “severance, facility and other restructuring costs” of $61 million related to its April layoffs and other moves to focus its business.

The company says that its decision “to close one of our international facilities” during the fourth quarter of the year led to $16 million in severance and other costs. That likely refers to the closure of Yahoo’s R&D facility in Grenoble, France. Closing down those operations triggered the departure of an executive at a company Yahoo had acquired, which led to “$19 million of non-cash stock-based compensation expense for the acceleration of certain of the executive’s stock-based awards pursuant to the acquisition agreements.” Yahoo doesn’t name the executive.

Update: Rafat adds: Microsoft (NSDQ: MSFT) has been mentioned 2359 times in the Yahoo 10K. Who’s betting when the new offer is coming in?

Other by-the-numbers:
—Product development expenses for 2007, 2008, and 2009 totaled about $1.1 billion, $1.2 billion, and $1.2 billion, respectively, which included stock-based compensation expense of $218 million, $178 million, and $206 million, respectively.
—As of December 31, 2009, it had approximately 13,900 full-time employee.
—For 2009, fees revenues decreased approximately $106 million, or 12 percent, compared to 2008. The fluctuations were primarily attributed to “changes in certain of our broadband access partnerships, from being fee-paying user based to an advertising revenue sharing model, as well as the outsourcing of the voice over internet protocol, or VOIP, subscription music businesses, and other business lines.”
—The number of paying users for its fee-based services decreased to 8.6 million as of December 31, 2009 compared to 9.7 million as of December 31, 2008, a decrease of 11 percent, as a result of the business model changes described above.
— Total compensation expense decreased approximately $281 million for the year ended December 31, 2009, compared to 2008.

Yahoo Photo: Corbis

Posted In: Money, M&A & Venture Capital, Companies, Yahoo, maktoob

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