Yahoo, Microsoft agree to tango to take on Google
05 Dec 2009
Yahoo and Microsoft have announced that they have finalised details of their planned internet search and advertising prartnership.
The companies hope to implement the deal next year after approval of anti-trust regulators.
Both companies have welcomed the broad support the deal has received from key players from the advertising industry they said in a joint statement. They add that they remain hopeful of closing of the transaction in early 2010.
According to the statement both companies believe that the deal will create a sustainable and more compelling alternative in search that could provide consumers, advertisers and publishers real choice, better value and greater innovation.
The companies had originally planned to complete their agreement by 27 October but talks extended given the complex nature of the transaction.
The plan for a 10-year web search and advertising pact was unveiled in July and is designed to prepare the ground for a Yahoo-Microsoft offensive on Google, the search engine and advertising leader.