Microsoft and Yahoo! have signed a ten-year search and advertising partnership in an attempt to rival market-leading search giant Google. Under the terms of the agreement, Redmond, Washington-based Microsoft will handle the search technology and Sunnyvale, California-based Yahoo! will drive the sales for search advertising. MicrosoftÔÇÖs recently-released Bing search engine will be the search and paid search platform for Yahoo!ÔÇÖs sites. Google currently holds more than 70 percent of the global market for paid search results. Yahoo! currently holds only eight percent globally, though it ranks as the second-largest. The tie-up will not cover display advertising, email or each companyÔÇÖs web properties and products. Original search pioneer Yahoo! has estimated the deal will boost its annual operating profit by $500 million and save it about $275 million on investment in search technology. ÔÇ£Through this agreement with Yahoo!, we will create more innovation in search, better value for advertisers and real consumer choice in a market currently dominated by a single company,ÔÇØ said Microsoft chief executive officer Steve Ballmer. Yahoo! chief executive officer Carol Bartz added: "This agreement comes with boatloads of value for Yahoo!, our users, and the industry, and I believe it establishes the foundation for a new era of Internet innovation and development.ÔÇØ * ┬á┬á┬á┬á┬á┬á*┬á┬á┬á┬á┬á┬á *
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