Report: Yahoo, Facebook Strike Deal

The ongoing talks between Yahoo and Facebook in an attempt to resolve their long-running patent litigation battle have apparently been fruitful, as AllThingsD reported that the two Internet giants have reached an agreement.

According to AllThingsD, the boards of both companies approved the deal, which includes a major expansion of their partnership, complete with a joint advertising-sales effort, as well as cross-licensing of some of the patents being disputed.

One part of the deal, according to AllThingsD, is that Yahoo will be the first Facebook partner with the ability to feature information about users’ likes in its display advertising.

Cash payment by either company is not a part of the agreement, according to AllThingsD, which added that the possibility exists for Facebook to pay Yahoo to license some patents not involved in the ongoing litigation.

According to AllThingsD, an official announcement could come as early as Friday afternoon.

Readers: Do you think this reported agreement is a smart move by both companies?

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