When Verizon finally completes its $4.5 billion acquisition of Yahoo and merges the business with AOL, it plans to rename the combined company Oath.

The new brand, which will combine Yahoo's search mail, content and advertising technology businesses with AOL under executive vp Marni Walden, was first reported Monday by Business Insider. AOL CEO Tim Armstrong confirmed the news later in the day with a tweet noting that Oath, which will become official this summer after the deal for Yahoo closes, will have more than a billion consumers and 20 brands.

Billion+ Consumers, 20+ Brands, Unstoppable Team. #TakeTheOath. Summer 2017. pic.twitter.com/tM3Ac1Wi36

- Tim Armstrong (@timarmstrongaol) April 3, 2017

A spokeswoman for AOL said in a statement, "In the summer of 2017, you can bet we will be launching one of the most disruptive brand companies in digital."

Confirmation of the new name seems to indicate that Verizon's acquisition of Yahoo is back on track following the disclosure last fall of two large data breaches that have held up the transactions. Verizon announced in February that it would cut its deal for Yahoo by $350 million as a result of the breaches, which combined impacted more than one billion Yahoo users.

Oath is just the second name change for Yahoo this year. After the company sells its internet assets to Verizon, it will rename the remaining business - which includes its stakes in Alibaba and Yahoo Japan - Altaba.

It is unclear if the name change means that Verizon will retire the AOL and Yahoo brands. If so, it would mean the end for two of the biggest internet brands of the first dot-com boom.