This is no longer just a rumor, this is the real deal. I’ve never seen so many articles on the same topic so fast on Techmeme, but I guess I shouldn’t be surprised. This is big, big news! Here’s what they had to say in the press release:
The combination will create a more efficient company with synergies in four areas: scale economics driven by audience critical mass and increased value for advertisers; combined engineering talent to accelerate innovation; operational efficiencies through elimination of redundant cost; and the ability to innovate in emerging user experiences such as video and mobile. Microsoft believes these four areas will generate at least $1 billion in annual synergy for the combined entity.
Microsoft has developed a plan and process that will include the employees of both companies to focus on the integration of the combined business. Microsoft intends to offer significant retention packages to Yahoo! engineers, key leaders and employees across all disciplines.
The offer is a combination of cash and stock. Microsoft thinks they can have regulatory approval and a completed deal in the second half of 2008.
Look out Google!