It has been reported that Yahoo and Facebook have settled down their previous patent claims and issues. Besides, they have also set the strategies for advertisement and distribution partnership.

An agreement has been signed by the two under which, the two would work in coordination to promote their business and for attracting more customers. The information about the agreement was provided by the companies during press release.

While informing about the agreement, the CEO of Yahoo, Ross Levinsohn, said, “We are excited to develop a deeper partnership with Facebook…for working hard together with our team to develop this dynamic agreement”.

The Chief Operating Officer of Facebook, Sheryl Sandberg, also said that Facebook is happy to be in agreement with Yahoo. Sheryl Sandberg further said that Facebook is hoping to resolve the previous issues with Yahoo.

Sheryl Sandberg said that while working together, Facebook and Yahoo would be able to provide value services to their present and future customers. At present, Facebook and Yahoo are on long term agreement for providing news and information on Yahoo. In the recent agreement, Yahoo and Facebook have agreed to work together in a well coordinated manner.