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August 9, 2004 9:55 AM
Holy Sh*t: Google and Yahoo Settle Patent Lawsuit
This just in from the Journal(sub required):
Google Inc. and Yahoo Inc. settled disputes over patents and service agreements, with Google agreeing to issue 2.7 million shares to Yahoo.
Google warned that it will take a charge of $260 million and $290 million related to the settlement, which will lead it to post a net loss for the current quarter.
Google agreed to license a patent held by Yahoo's Overture unit related to the way advertisements are attached to search results. Such advertising is a lucrative part of Google's business, and Yahoo had filed a patent lawsuit alleging that Google was inappropriately using a system developed by Overture. As part of Monday's agreement, Yahoo agreed to drop that lawsuit.
Yow. More to come.
- Posted by John Battelle on August 9, 2004 9:55 AM
remember this »- Sphere It
Comments
Was there a missing 'between' in this sentence:
"Google warned that it will take a charge of $260 million and $290 million related to the settlement, which will lead it to post a net loss for the current quarter."
Or is it two charges totaling $550m?
Yes, there was...! It's between, not both!
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