Microsoft allowed to buy Yahoo!’s internet search businessFebruary 19th, 2010 - 1:11 am ICT by IANS
Brussels, Feb 18 (DPA) US computer software giant Microsoft may go ahead with buying competitor Yahoo!’s internet search and advertising business, the European Commission ruled Thursday.
The deal is part of Microsoft’s strategy to challenge Google’s commanding position amongst internet search engines. Google controls more than 90 percent of the market in the European Economic Area (EEA), compared to less than 10 percent for Microsoft and Yahoo! put together.
EU regulators agreed, stating that the transaction is expected to “increase competition in internet search and search advertising by allowing Microsoft to become a stronger competitor to Google”.
Microsoft is to acquire a 10-year exclusive license to Yahoo!’s search technologies and is set to become the exclusive internet search and search advertising provider used by Yahoo!.
In exchange, Microsoft will retain 12 percent of the search revenues generated on Yahoo!’s and its partners’ websites during the first five years of the agreement.
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