Facebook and Yahoo! have agreed to resolve their fights over patent fight. The fights started in the beginning of 2012 as Yahoo appointed a new CEO Scott Thompson which was later fired on May 13 by the boards due to credential issue in his resume. At the same time, Facebook spent millions to acquire hundred patents from Microsoft and IBM to respond to Yahoo! patent lawsuit.
Yahoo! and Facebook confirmed that they have reached settlement of the case and both companies will work together to share and cross-license their patent portfolios. In an effort to prolong the relationship, both companies will expand advertising content sharing. They also promise to improve services to help premium advertisers to get the best out of a new distribution system, including content from Yahoo! to be displayed in the social network. Millions Facebook users will be benefited by using Yahoo! content to connect to their friends and family members.
The latest news will strengthen Ross Levinsohn to be picked as the next CEO for Yahoo!. Many tech sources have confirmed that he will be appointed by the board next week. Levinsohn replaced Thompson who was fired in mid-May this year. Levinsohn has been working very hard to bring peace to Yahoo! and offer to talk with Facebook’s Chief Operating Officer Sheryl Sandberg to resolve the patent issue.
(Image: Facebook logo and Yahoo logo)