Facebook and Microsoft have agreed to renew their search advertising deal, allowing Microsoft to continue providing search advertisements on the social networking site while Facebook takes control over banner ads.
The deal renews a partnership signed in 2006 when Microsoft took over US banner ad sales for Facebook. The deal was extended a year later when Microsoft bought a stake in Facebook for $240m (£153m).
Jon Tinter, general manager of Microsoft's Bing search engine, said in a blog post that the decision to hand over banner ads was a mutual agreement between Microsoft and Facebook.
"We have been working together on advertising for a long time, creating the best experience for Facebook users and advertisers," he said.
"Given the kinds of advertisements that make sense within a product as unique as Facebook, it just made more sense for them to take the lead on this part of their advertising strategy."
Grabbing a share of the search advertising market has been a major priority for Microsoft in recent years. Starting with the attempted purchase of Yahoo in 2008 and continuing into the launch of Bing, the company is making a major bid for a stake in the lucrative space.
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