A partnership deal finally made between Facebook and Yahoo ends months of legal wrangling between the two companies.
The internet advertising and licensing agreement will see cross licensing of patents and collaborative advertising during the Olympics, the annual Super Bowl and other major media events.
Back in March, Yahoo took Facebook to court with the accusation of infringement of 10 patents, including one related to internet advertising. It was suggested that Facebook’s advertising performance had improved massively through using their technology.
In response, Facebook criticized Yahoo for making a priority of ‘litigation over innovation,’ claiming the legal proceedings were intended to cash in on Facebook’s recent profits in becoming a publicly traded company.
In 2008, Yahoo turned down a $44 billion takeover bid from Microsoft, having had 4 CEOs in 4 years. Yahoo leadership is still in question, with former CEO, Scott Thompson, leaving after a scandal. Ross Levinsohn, the current interim CEO, is likely to take over, but no decision has yet been made.