Facebook and Yahoo tipped to settle lawsuit

This week the folks at Facebook and Yahoo have been reported to be settling things between one another in regards to a collection of patent suits that were being fired at one another earlier this year. According to sources close to the dealings speaking with AllThingsD, a deal will be announced later today in which no money will change hands, somehow or another. Instead it seems that a strategic deal has been met and will be working with joint online advertising sales and patent cross-licensing.

When Yahoo sued Facebook back in March, the former said that the latter had infringed on 10 patents, some of which included bits on online advertising technology. This situation prompted Yahoo to claim that Facebook was "one of the worst performing sites for advertising" before they started using Yahoo-owned ideas.

Facebook responded with a lawsuit just a month later, claiming that Yahoo was prioritizing "litigation over innovation" and that Yahoo's claims were bogus. Now it seems that the two have shaken hands in favor of moving beyond the situation entirely! Stay tuned for more as the full extent of the situation is revealed (or so we expect) later today.