Yahoo and Microsoft are re-negotiating on search alliance agreement signed in 2010. The duo have agreed to push back the deadline for renewing their Web search alliance another month.
The ten year deal includes Yahoo Inc to use Microsoft Bing’s search technology replacing their own search engine and Yahoo’s search-based advertising system were powered by Microsoft. The agreement did allow for the two companies to make changes to the contract, or even end it, after five years. Under the terms of the deal, the companies had 30 days to make changes following Feb. 23. The amendment the two companies entered into would give Yahoo until April 24 to break off the alliance.
The report stated that Yahoo and Microsoft mutually agreed to extend that deadline to a 60-day period following Feb. 23, as per a filing with the U.S. Securities and Exchange Commission. Google still continues to be the leader when in comes to US search market and while Microsoft and Yahoo’s combined share of the market is essentially unchanged at roughly 30%.