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Yahoo! and Bing Finalize Partnership on Search Technology and Ad Revenue

The Daily Telegraph reported on Monday that Microsoft and Yahoo! have finalized a deal to combine search engine and online advertising efforts in an attempt to combat industry leader Google. The two companies had announced reaching an agreement in principle in July but had not yet been able to work out the details of the deal until recently.

A joint statement released by the two companies eyes a completion date of early 2010 for the ten-year deal, which still needs to be approved by antitrust regulators such as the U.S. Department of Justice and the European Union.

"Microsoft and Yahoo! believe that this deal will create a sustainable and more compelling alternative in search that can provide consumers, advertisers and publishers real choice, better value, and more innovation," the statement said. "Yahoo! and Microsoft welcome the broad support the deal has received from key players in the advertising industry and remain hopeful that the closing of the transaction can occur in early 2010."

Both Yahoo! and Microsoft have a long way to go to catch up industry leader Google. According to the most recent report by research firm Net Applications, Google current controls roughly 85 percent of the online search market, with Bing and Yahoo! combining for less than ten percent.

-Richard Manfredi

 

Dec 07, 2009