Microsoft, Yahoo sign deal

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A Microsoft-Yahoo partnership has finally emerged. On Wednesday, they signed a ten-year deal which Microsoft hopes will help it challenge Google as the world's No.1 search engine.

Microsoft CEO Steve Ballmer signs a global search agreement with Yahoo! CEO Carol Bartz at Yahoo!'s Sunnyvale headquarters on  July 29, 2009.(Photo by Yahoo! Inc.)

The deal allows Microsoft to take over search responsibilities on Yahoo's popular site.

With the extended reach Microsoft can better introduce its recently upgraded search engine Bing to more people.

Steve Ballmer, Microsoft CEO, said, "Right now there is one company that really dominates that worldwide market for search and online advertising. The partnership we are announcing today will help to create a stronger number 2 and increase competition in the search area."