Technology.am(Dec. 05, 2009) — Yahoo and Microsoft have finalized their conformity to install Microsoft as the special search provider for Yahoo’s network of sites, the companies announced Friday. The deal, initially reached in July, still needs to be accepted by the U.S. government prior to it becomes final. But the companies said in October that they required additional time to complete the deal owing to the “multifaceted character of this transaction,” and Friday’s announcement is probably the consequence of hundreds of hours of meticulous evaluation from expensive lawyers.
At least company executives didn’t have to frame up the frequent-flier miles to decide this year; they signed it virtually, with Microsoft’s Qi Lu and Yahoo CEO Carol Bartz on behalf of their individual companies on the licensing agreement and Ballmer and Bartz inking the ultimate contract, according to sources familiar with the deal.
Under the terms of the contract Microsoft will offer search technology to Yahoo for up to 10 years, also gaining access to Yahoo’s search technology assets and numerous hundred employees. It will then compensate Yahoo a noteworthy segment of the ad revenue generated along those searches.
A Yahoo representative declined to remark on the particulars of what held up the ultimate agreement of the deal. Both parties said they still anticipate the deal to be converted into final in early 2010, even though the government is certain to take a long hard look.