Last July, Microsoft and Yahoo announced a search deal that would bring Bing to Yahoo, Yahoo to Bing, and place Yahoo in charge of the big advertisement deals for the two search engines. After simmering in the regulatory system for seven long months, the partnership has finally received approval from both the US and the EU regulatory bodies. Big changes are in store for Yahoo as the search portal will now be powered by Bing with identical search results being served up by both search engines. The two portals will distinguish themselves by the content and services they offer on top of the search results. Yahoo will receive $150 million in cash payments from Microsoft for the transition of Yahoo over to Bing and Microsoft will gain a ten year license that allows it to incorporate Yahoo’s core search technologies into Bing. Yahoo will also keep the lions share of the advertisement revenue having negotiated for a 88% cut for the first five years of the agreement. Combined, the two search engines will grab 28% of the Internet search market, a figure that almost doubles Yahoo’s current 17% and almost triples Bing’s 11% share. The merger of the two search engines is expected to start within the next few days and will be completed by the end of 2010 in the US and by 2012 globally.