Microsoft Corp. agreed to hire at least 400 Yahoo Inc. employees as part of the companies' proposed Internet search-advertising partnership, according to a regulatory filing.The software maker will also hire 150 of Yahoo's staff to assist with the transition, Yahoo said in a Securities and Exchange Commission filing.
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Under the deal, which was announced July 29, search results on Yahoo.com will be powered by Microsoft's technology. Yahoo, in turn, will be responsible for attracting premium advertisers.Microsoft will pay Yahoo 88% of the revenue it gains from searches on Yahoo's sites. Microsoft will also have the rights to integrate Yahoo's search technology into its own existing Web search platforms.The SEC filing revealed that Microsoft can end Yahoo's sales exclusivity deal after five years, but Microsoft would have to increase its revenue share rate to 93% for the remainder of the ten-year agreement.
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