Microsoft and Yahoo strike deal - report
The tech giants are set to announce an online search and advertising deal in the next 24 hours, according to The Wall Street Journal.
NEW YORK (CNNMoney.com) -- Microsoft and Yahoo have finally come to a search deal and will announce the details of the agreement in the next 24 hours, according to a report.
It is not clear whether the two companies have signed any official papers, but the negotiations of the deal, which also includes advertising, have finally come to a close, The Wall Street Journal said Tuesday.
Yahoo (YHOO, Fortune 500) and Microsoft (MSFT, Fortune 500) have been in talks for some time to join forces on Internet search and advertising technology. Together, the two could stand a better chance to gain market share from rival Google (GOOG, Fortune 500).
Microsoft launched its own Internet search portal, Bing, in early June. While Bing met with initial success, Microsoft has still been unable to post a profit in its online advertising business.