In a major expansion of the partnership, Yahoo and Facebook have reportedly reached a strategic deal as part of a final settlement of their patent infringement lawsuits.
As per this agreement they will be part of a joint advertising sales effort and also will be agreed for cross-licensing of some key patents between them. The news was earlier reported as probable report by ‘AllThingsD’ but now it has become official after the two techno giants confirmed about it.
The confirmation report said that boards of both Facebook and Yahoo have approved the deal and it will be announced later, which also says that no actual cash payment would be there over the patent dispute.
In last March 2012 Yahoo had filed a lawsuit against Facebook claiming that the social network giant had infringed 10 of its patents covering advertising, privacy, messaging and social networking. In return, Facebook had also filed a countersuit against Yahoo in early April.
This is one of the biggest settlements in the world techno market as two leading techno giants of the global market are involved in the scuffle. It has also been reported that Yahoo Board first wanted to sue Facebook as former Yahoo Chief Executive Officer Scott Thompson promised a big financial payoff but they reached out for settlement with Facebook shortly after Thompson stepped down over academic credentials in May.
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