The Microsoft-Yahoo search and advertising deal, first announced back in July, has just been finalized by the two companies.
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Back in October, it was revealed that details were still being mulled over because of the deal’s complexity, but this afternoon, the companies put out a statement to let the world know that the deal is now complete.
Here’s the statement:
Yahoo! Inc. and Microsoft Corporation today announced that the companies have finalized and executed the definitive Search and Advertising Services and Sales Agreement and License 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.”
Now, we wait for Bing to become Yahoo’s search engine, a process that likely won’t be finished until late next year, but will have major implications on the search landscape once complete.