Facebook, Yahoo tie up, settle lawsuits

The pact settles accusations of technology patent infringement

Inc and Yahoo Inc agreed to forge a broad Internet advertising and licensing partnership on Friday, laying to rest their dueling patent lawsuits.

The pact settles accusations of technology patent infringement that began under the stewardship of ex-Yahoo CEO Scott Thompson, ousted after a scandal erupted over inaccuracies in his resume. Sources tell Reuters interim CEO is now the front runner for the top job.

Facebook's and Yahoo's strategic deal -- which expands an existing multi-year that involved mainly allowing Facebook users to share Yahoo content -- encompasses cross-licensing of patents and collaboration on advertising offerings during major media events such as the Olympics or annual Super Bowl.

"I'm pleased that we were able to resolve this in a positive manner and look forward to partnering closely with Ross and the leadership at Yahoo," Sheryl Sandberg, Facebook's Chief Operating Officer and newest board member, said in a statement.

Yahoo, the once iconic Internet company, has struggled to find its footing in a digital world dominated by the likes of Apple , Google , Facebook, and Twitter.

The company's leadership has been in a state of upheaval since turning down Microsoft's $44 billion takeover offer in 2008, plowing through four chief executives in as many years. The company would not say when a final decision on a permanent CEO will be made.

Yahoo's lawsuit had invited some criticism that it was trying to wring cash out of a company about to go public in Silicon Valley's largest coming-out party.

It sued Facebook in March, claiming the No. 1 social networking company infringed 10 patents including several that cover online advertising technology. In its lawsuit, the company said Facebook was considered "one of the worst performing sites for advertising" prior to adopting Yahoo's ideas.

Facebook, which went public in May, filed a countersuit of its own a month later and called Yahoo short-sighted for its decision to prioritize "litigation over innovation."

Facebook has been beefing up its patents arsenal. In April, it announced to deal to pay Microsoft Corp $550 million for hundreds of patents that originated with AOL .

 

image
Business Standard
177 22
Business Standard

Facebook, Yahoo tie up, settle lawsuits

The pact settles accusations of technology patent infringement

Reuters  |  SAN FRANCISCO  



Inc and Yahoo Inc agreed to forge a broad Internet advertising and licensing partnership on Friday, laying to rest their dueling patent lawsuits.

The pact settles accusations of technology patent infringement that began under the stewardship of ex-Yahoo CEO Scott Thompson, ousted after a scandal erupted over inaccuracies in his resume. Sources tell Reuters interim CEO is now the front runner for the top job.

Facebook's and Yahoo's strategic deal -- which expands an existing multi-year that involved mainly allowing Facebook users to share Yahoo content -- encompasses cross-licensing of patents and collaboration on advertising offerings during major media events such as the Olympics or annual Super Bowl.

"I'm pleased that we were able to resolve this in a positive manner and look forward to partnering closely with Ross and the leadership at Yahoo," Sheryl Sandberg, Facebook's Chief Operating Officer and newest board member, said in a statement.

Yahoo, the once iconic Internet company, has struggled to find its footing in a digital world dominated by the likes of Apple , Google , Facebook, and Twitter.

The company's leadership has been in a state of upheaval since turning down Microsoft's $44 billion takeover offer in 2008, plowing through four chief executives in as many years. The company would not say when a final decision on a permanent CEO will be made.

Yahoo's lawsuit had invited some criticism that it was trying to wring cash out of a company about to go public in Silicon Valley's largest coming-out party.

It sued Facebook in March, claiming the No. 1 social networking company infringed 10 patents including several that cover online advertising technology. In its lawsuit, the company said Facebook was considered "one of the worst performing sites for advertising" prior to adopting Yahoo's ideas.

Facebook, which went public in May, filed a countersuit of its own a month later and called Yahoo short-sighted for its decision to prioritize "litigation over innovation."

Facebook has been beefing up its patents arsenal. In April, it announced to deal to pay Microsoft Corp $550 million for hundreds of patents that originated with AOL .

 

RECOMMENDED FOR YOU

Facebook, Yahoo tie up, settle lawsuits

The pact settles accusations of technology patent infringement

Facebook Inc and Yahoo Inc agreed to forge a broad Internet advertising and licensing partnership on Friday, laying to rest their dueling patent lawsuits.

Inc and Yahoo Inc agreed to forge a broad Internet advertising and licensing partnership on Friday, laying to rest their dueling patent lawsuits.

The pact settles accusations of technology patent infringement that began under the stewardship of ex-Yahoo CEO Scott Thompson, ousted after a scandal erupted over inaccuracies in his resume. Sources tell Reuters interim CEO is now the front runner for the top job.

Facebook's and Yahoo's strategic deal -- which expands an existing multi-year that involved mainly allowing Facebook users to share Yahoo content -- encompasses cross-licensing of patents and collaboration on advertising offerings during major media events such as the Olympics or annual Super Bowl.

"I'm pleased that we were able to resolve this in a positive manner and look forward to partnering closely with Ross and the leadership at Yahoo," Sheryl Sandberg, Facebook's Chief Operating Officer and newest board member, said in a statement.

Yahoo, the once iconic Internet company, has struggled to find its footing in a digital world dominated by the likes of Apple , Google , Facebook, and Twitter.

The company's leadership has been in a state of upheaval since turning down Microsoft's $44 billion takeover offer in 2008, plowing through four chief executives in as many years. The company would not say when a final decision on a permanent CEO will be made.

Yahoo's lawsuit had invited some criticism that it was trying to wring cash out of a company about to go public in Silicon Valley's largest coming-out party.

It sued Facebook in March, claiming the No. 1 social networking company infringed 10 patents including several that cover online advertising technology. In its lawsuit, the company said Facebook was considered "one of the worst performing sites for advertising" prior to adopting Yahoo's ideas.

Facebook, which went public in May, filed a countersuit of its own a month later and called Yahoo short-sighted for its decision to prioritize "litigation over innovation."

Facebook has been beefing up its patents arsenal. In April, it announced to deal to pay Microsoft Corp $550 million for hundreds of patents that originated with AOL .

 

image
Business Standard
177 22
Widgets Magazine

More News

  • Signs of realty revival ahead of festive season Signs of realty revival ahead of festive season
  • Amit Chandra Bain Capital's Amit Chandra joins Tata Sons board
Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard