Yahoo’s deal to outsource it’s search engine to Microsoft is finally done.
Microsoft and Yahoo agreed to the deal in late July and have been ironing out details since.
The deal now faces regulatory scrutiny.
Yahoo! Inc. and Microsoft Corporation today announced that the companies have finalised and executed the definitive Search and Advertising Services and Sales Agreement and licence Agreement in accordance with the letter agreement announced in July.
The companies released the following joint statement:
“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.
“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.”
Yahoo! attracts hundreds of millions of users every month through its innovative technology and engaging content and services, making it one of the most trafficked Internet destinations and a world-class online media company. Yahoo!’s vision is to be the centre of people’s online lives by delivering personally relevant, meaningful Internet experiences. Yahoo! is headquartered in Sunnyvale, California. For more information, visit http://pressroom.yahoo.com or the company’s blog, Yodel Anecdotal (http://yodel.yahoo.com).
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