[Techtaffy Newsdesk]

Yahoo and Facebook  have entered into definitive agreements that launch a new advertising partnership, extend and expand distribution arrangements, and settle all pending patent claims between the companies, according to a joint statement released by the companies.

Under the agreements, which include a patent portfolio cross-license, Yahoo and Facebook will work together to bring consumers and advertisers a media experience promoted and distributed across both Yahooand Facebook. Facebook will also be collaborating with Yahoo on social integrations on the Yahoo site.

Since the launch of the original multi-year partnership between Yahoo and Facebook that allows users to discover and connect news and information on Yahoo sites and share them with their Facebook friends, Yahoo has integrated the feature called “Social Bar” on more than 100 of its properties globally, and more than 90 million users have implemented it. As a result, Yahoo has the largest active user base among all news sites that have integrated with Facebook’s Open Graph platform, making Social Bar the world’s leading social news application, according to the statement.

Yahoo and Facebook have also agreed to collaborate on multiple tent-pole and anchor events annually over the next several years.

[Image Courtesy: Facebook]