Image by Gnal via Flickr

As expected, Microsoft and Yahoo have finally struck a deal, one that with regulatory approval, they hope will be in place by early 2010. Microsoft has issued a press release and created a minisite about the deal. A press conference is happening later today (which we’ll live blog), and we’ll have continuing coverage. The details so far:

* The term of the agreement is 10 years
* Microsoft will acquire an exclusive 10 year license to Yahoo!’s core search technologies, and Microsoft will have the ability to integrate Yahoo! search technologies into its existing web search platforms [Note from Danny Sullivan: Exclusive suggests Yahoo itself won't be able to use the technology or develop it, which means after 10 years, what's left probably isn't that useful]
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