Microsoft and Yahoo seem all set to pose a stiff challenge to Google in the internet search sphere by finalising an all important search and online advertisement agreement.
The two internet giants penned an agreement in the month of July, according to which, Microsoft’s Bing would power search results of Yahoo, and in turn Yahoo would dish up top-notch search advertising services for both firms.
The duo hoped to close the deal in October, but had to wait on due to legal concerns surrounding the aforementioned deal.
The companies, over the last weekend released a statement, in which they said that they hope that the deal would finally be closed in the first half of the next year, and that they have had massive support the agreement has received from some of the prominent players in the online advertising arena.
Back in October, four ad executives along with the head of the American Association of Advertising Agencies sent a missive corroborating the deal to the US Department of Justice (DOJ).
However, the DOJ is still evaluating the proposed agreement for the concerns surrounding the issues pertaining to antitrust issues.
The agreement is intended to offer some tough competition to the search engine behemoth Google, which is currently is the clear-cut leader with around 70 percent of the US search market.
Some might say that the tide is turning for Google as Yahoo and Microsoft explore more synergistic approaches to their respective search businesses. Bing has been gaining points in the US search engine markets and most crucially (apart from a recent downtime) hasn't been criticised as some might have expect, for a web-based Microsoft product.
(Media Post News)
(The Wall Street Journal)