Yahoo Finance has reached an agreement with its investors to buy its own shares in the technology company, which is being valued at $17 billion.
Yahoo is currently valued at about $20 billion, according to Forbes.
The deal, which would give Yahoo a majority stake in Yahoo Finance, would be subject to shareholder approval.
The news comes as Yahoo Finance is seeking to raise additional funds to invest in its business and expansion.
“We are very pleased to have concluded an agreement to purchase Yahoo Finance’s equity and are now in the process of exploring additional options for further capital growth,” Yahoo Chief Executive Officer Marissa Mayer said in a statement.
The new company, whose name is based on the Greek words for finance and finance-related businesses, would have no connection to Yahoo and would be separate from Yahoo’s core business of investing in financial products and services.
Yahoo Finance will also have a board of directors and will operate under the Yahoo name.
Mayer said the deal will allow Yahoo Finance to continue its growth and continue to innovate and invest in Yahoo’s business.
“With Yahoo Finance we can continue to grow Yahoo’s portfolio of products and service offerings and grow Yahoo Finance in the most strategic ways,” Mayer said.
“This is a great investment for Yahoo and we look forward to working together with the Yahoo Finance board and management team to deliver a new direction for Yahoo Finance.”