Facebook and Yahoo have reached a
comprehensive strategic deal that includes a settlement of Yahoo's
patent violation lawsuit against the social networking company, the
Wall Street Journal blog All Things D reported Friday.
No cash is changing hands under the terms of the settlement which brings a major expansion of the companies' existing partnership and includes a joint advertising sales effort, the report said.
Yahoo had sued Facebook shortly before the latter company's initial public offering in May in what was regarded as an unusual move for the struggling internet pioneer, which traditionally had used its trove of patents only to defend itself from patent lawsuits.
However, Scott Thompson, the Yahoo chief who initiated the lawsuit, was forced to step down shortly afterwards over a resume-padding scandal and the settlement has been negotiated by his interim successor Ross Levinsohn and Facebook's head Sheryl Sandberg, the report said.
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