Microsoft and Yahoo! announce Web search deal Yahoo! and Microsoft reached agreement on Wednesday on a long-awaited Web search partnership that would unite the two companies against market leader Google.
Under the no-cash deal, Yahoo! will use Microsoft's new Bing search engine on its own sites, while Yahoo! will act as the exclusive global sales force for the companies' premium search advertisers.
Yahoo!, which last year turned down a 47.5-billion-dollar takeover bid from Microsoft, said it stood to gain about 500 million dollars in annual operating income and 200 million in capital expenditure savings through the agreement with the software giant.
The Sunnyvale, California, company also estimated the deal would provide it with a 275-million-dollar benefit to annual operating cash flow.
"This agreement comes with boatloads of value for Yahoo!, our users, and the industry. And I believe it establishes the foundation for a new era of Internet innovation and development," Yahoo! chief executive Carol Bartz said in a statement. read more..
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