European Commission approves Microsoft/Yahoo plans
European Commission approves Microsoft/Yahoo plans
Friday 19th February 2010
Microsoft has today won unconditional EU approval to buy Yahoo's internet search engine in a deal aimed at challenging Google market dominance.However, the European Commission said the deal "would not significantly impede effective competition".
Microsoft and Yahoo announced their plans for a deal last summer, with Microsoft search engine Bing to be used by both technology firms. The deal-makers will have a tough job on their hands with Google having a 90 per cent market share.
The commission said it hoped the deal would "increase competition in internet search and search advertising by allowing Microsoft to become a stronger competitor to Google".
The US department of justice has also agreed the terms of the deal with no restrictions. The firms said following the ruling that the implementation of the deal is expected to begin in the coming days and will involve transitioning Yahoo's algorithmic and paid search platforms to Microsoft, with Yahoo becoming the exclusive relationship sales force for both companies' premium search advertisers globally.
"This breakthrough search alliance means Yahoo! can focus even more on our own innovative search experience," said Yahoo chief executive officer Carol Bartz.
"Yahoo gets to do what we do best: combine our science and technology with compelling content to build personally relevant online experiences for our users and customers."
While Microsoft chief executive Steve Ballmer added: "Although we are just at the beginning of this process, we have reached an exciting milestone.
"I believe that together, Microsoft and Yahoo will promote more choice, better value and greater innovation to our customers as well as to advertisers and publishers."
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