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Yahoo, Facebook 'settle patent fight'

2012-07-06 22:10

New York - A report in the tech blog AllThingsD says Facebook and Yahoo have reached a deal that settles their patent squabbles and expands their licensing and advertising partnership.

Citing unnamed people closed to the situation, AllThingsD said on Friday that the deal includes a joint advertising sales effort and cross-licensing of patents between the companies.

It also says no cash payment will change hands.

Yahoo sued Facebook in March, saying the online social networking company infringed on 10 of its patents covering advertising, privacy controls and social networks.

It later added two more patents to the complaint.

Facebook filed its own lawsuit against Yahoo in April.

In May, Facebook completed its initial public offering of stock. Yahoo also got a new CEO.

Facebook and Yahoo did not respond to requests for comment.