Verizon Communications Inc (VZ.N) said it had agreed to buy Yahoo Inc’s (YHOO.O) core internet business for $4.83 billion in cash, ending a lengthy sale process for the fading Web pioneer.

The deal will see Verizon scoop up Yahoo’s search, mail, content, and ad tech businesses.

It doubles Verizon’s digital advertising business, which will now reach an estimated 4.5% share of the US internet advertising market, according to eMarketer. It will place Verizon in a distant third place, in terms of US digital ad market share, to Facebook (17%) and Google (36%).

Meanwhile, Yahoo claims to have a global audience of more than 1 billion monthly active users, including 600 million monthly active mobile users.’stent verticals — from news, to finance, to sport — will join the likes of The Huffington Post, TechCrunch, and

Buying Yahoo’s operations will boost Verizon’s AOL internet business, which it bought last year for $4.4 billion, by giving it access to Yahoo’s advertising technology tools as well as other assets such as search, mail and messenger.

A part of Yahoo still remains after the deal: Yahoo is keeping its stakes in Chinese internet giant Alibaba and Yahoo Japan, which have a combined value of $40 billion. Yahoo had initially attempted to spin off its Alibaba stake, but the move was abandoned over fears the company would incur a hefty tax bill. Yahoo will also retain its cash, non-core patents (called the Excalibur portfolio), convertible notes, and other minority investments.

When the deal closes, Yahoo will change its name and become a publicly-traded investment company. The company says it intends to return “substantially all” of its net cash to shareholders.

The acquisition marks the final chapter in a rollercoaster story for Yahoo, which was founded in 1994 as one of the first web directories.

“The sale of our operating business, which effectively separates our Asian asset equity stakes, is an important step in our plan to unlock shareholder value for Yahoo,” Yahoo Chief Executive Marissa Mayer said in a statement on Monday.

The sale does not include Yahoo’s cash, its shares in Alibaba, its shares in Yahoo Japan, Yahoo’s convertible notes, certain minority investments and Yahoo’s non-core patents.

The Alibaba and Yahoo Japan investments are worth about $40 billion, while Yahoo had a market value of about $37.4 billion as of Friday’s close.