Microsoft will take a $240 million (1.6%) equity stake in Facebook, the online social network, and will expand its existing advertising partnership with the company.
Under terms of the arrangement, Microsoft will be the exclusive third-party advertising platform partner for Facebook, and will begin to sell advertising for Facebook internationally as well as domestically.
According to wire service reports, this deal gives Microsoft an additional platform for selling ads as it tries to catch up with Google Inc. It also gives Microsoft a toehold in social networking, an area where both Yahoo and Google have had difficulties.
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