Like our Facebook Page Subscribe to LTG on YouTube RSS Feed Contact or Tip Us

Yahoo and Facebook comes to terms with a deal

Radford C. Jul 6, 2012 1

facebook-yahoo

Since February, Yahoo has been picking a fight with Facebook over its patents regarding “advertising and Web page personalization”. Around 10 patents were supposedly infringed upon and now the two companies have come to terms with a deal.

The battle began after Yahoo’s former CEO Scott Thompson dug through Yahoo’s patent portfolios and pushed them into the lawyers’ tables. With the company recently laying off 2,000 employees and plans to restructure, it seemed like a last ditch effort to grab some cash before “the lie”. The lawsuit comes as one of Thompson’s many plans and was ousted as CEO in May after he lied about having a computer science degree on his resume.

According to All Things D, the settlement includes a new ad agreement, which will allow Yahoo to pull Facebook’s “like” data and display it on Yahoo-based ads. Yahoo interim CEO Ross Levinsohn and Facebook COO Sheryl Sandberg made the deal. Both companies have also agreed to license some of the offending technology to each other. Facebook explained in a press release that it will help Yahoo with “large media event coverage” by integrating it on the social network.

Via »All Things D