post Tuesday July 17, 2012
The ongoing battle between Yahoo and Facebook has finally been settled.
After suing Facebook in March for allegedly infringing on 10 of its patents, Facebook retaliated by buying 750 patents from IBM and more from Microsoft to counter sue and strengthen its defense.
Several law suits later however, Yahoo and Facebook dropped the suits in favor of cross licensing innovations and collaborating on future projects. Yahoo’s recent change in interim Chief Executive, from Scott Thompson to Ross Levinsohn likely led to this change as the former CEO lead the patent wars with Facebook.
According to Mr. Levinsohn, “We are excited to develop a deeper partnership with Facebook, and I'm grateful to Sheryl and her team for working hard together with our team to develop this dynamic agreement... Combining the premium content and reach of Yahoo as the world's leading digital media company with Facebook provides branded advertisers with unmatched opportunity”.
Mrs. Sheryl Sandberg, Chief Operation Officer of Facebook believes that their new alliance will “provide users with engaging social experiences while creating value for marketeers”.
Source: BBC, Business Insider
Image source: Forbes
