A U.S. online video startup is expected to acquire mobile phone service provider Yahoo for about $3 billion.
Yahoo, which is a division of Alphabet Inc., said in a statement on Thursday that it would pay $1.15 billion for the company, which specializes in online video, search, and advertising.
The company’s investors include the Walt Disney Co. and SoftBank Group Corp. Yahoo also said it would acquire the streaming video company Streamify, which it acquired in 2015 for $1 billion.
The deal is expected at a price of $5.50 per share.
The $3-billion acquisition is the largest of the companies biggest online video acquisitions, according to the New York Stock Exchange.
Yahoo’s stock, which closed at $49.98 on Thursday, is up 8% in 2018 to $66.20.
It has lost $30 billion in market value in its 20-year history.