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Details of Microsoft, Yahoo! deal come out

Wed, 08/05/2009 - 23:18 by Salinder Kumar

Redmond, Wash. -- U.S. software giant Microsoft Corp. intends to pay Yahoo! Inc. 88 percent of the revenue from searches on Yahoo! Web sites, a regulatory filing said.

The Securities and Exchange Commission filing revealed details of the Microsoft and Yahoo! advertising partnership announced on July 29, CNNMoney.com reported Wednesday.

The agreement includes Microsoft hiring 400 Yahoo! employees and paying Yahoo! $150 million over three years. Microsoft, in turn, will be allowed access to Yahoo!'s search engine technology. Microsoft recently launched its own search engine called Bing.

The deal combines two heavyweights in the Internet advertising business and is subject to approval by antitrust regulators.

Combined, however, the two companies still fall far short of the dominant position in the business, which is held by Google.

Copyright 2009 by United Press International.

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