Yahoo And Facebook Resolve Patent Disputes, Hug It Out

In a world currently full of nasty, technological patent wars amongst tech giants, there's been at least one instance of hand-shaking this week. Facebook and Yahoo, who were previously tied up in a bitter battle over patents, have seemingly worked out their differences. The pair has launched a "strategic alliance" in order to resolve the ongoing disputes, and that a new advertising partnerships will flow from it. Not to mention expanded distribution arrangements, and according to the release, this deal will "settle all pending patent claims between the companies."

Facebook Yahoo! settle differences

Here's a bit more from the newly-happy duo: "Under the agreements, which include a patent portfolio cross-license, the parties will work together to bring consumers and advertisers premium media experiences promoted and distributed across both Yahoo! and Facebook. Yahoo! and Facebook will also work together to bring Yahoo!'s large media event coverage to Facebook users by collaborating on social integrations on the Yahoo! site.

"We are excited to develop a deeper partnership with Facebook, and I'm grateful to Sheryl and her team for working hard together with our team to develop this dynamic agreement. We are looking forward to building on the success we have already seen to provide innovative new products and experiences for both consumers and sponsors," said Ross Levinsohn, interim CEO of Yahoo!. "Combining the premium content and reach of Yahoo! as the world's leading digital media company with Facebook provides branded advertisers with unmatched opportunity."

Going forward, it looks as if the companies will actually be working together to strengthen both brands. Love it when punches become huge.