Facebook and Yahoo! agreed to create a broad partnership of patents and advertisements on the internet, putting an end to legal disputes involving patents, according to information from the Reuters.
The deal resolves allegations of technology patent infringement that began under former Yahoo! CEO Scott Thompson, who stepped down after a scandal over inaccuracies in his academic record. Sources told Reuters that Yahoo’s current interim chief executive, Ross Levinsohn, is now the top contender for the position.
The strategic alliance between Facebook and Yahoo! – which expands an existing multi-year collaboration agreement, whose primary assignment is to allow Facebook users to share content from Yahoo! – covers mutual patent grants and collaboration on advertising offers during major media events such as the Olympics or the annual Super Bowl sporting event.
“I am pleased that we have been able to resolve this in a positive way, and I look forward to working with Ross and the leadership of Yahoo,” said Sheryl Sandberg, vice president of operations and newest member of Facebook’s board.
Yahoo !, once an iconic internet company, is struggling in the digital world, dominated by companies like Apple, Google, Facebook and Twitter. The company’s leadership has been in a state of disarray since Yahoo! declined a $ 44 billion acquisition offer from Microsoft in 2008, hiring four CEOs since then. The company did not say when to make a final decision about the position.
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