We are one major step closer to Microsoft and Yahoo closing on their Micro-hoo search deal which started officially back in July. Yahoo announced on Friday that the details of the deal between Yahoo and Microsoft are final now.

Yahoo! Inc. and Microsoft Corporation today announced that the companies have finalized and executed the definitive Search and Advertising Services and Sales Agreement and License Agreement in accordance with the letter agreement announced in July.

The companies released the following joint statement:

“Microsoft and Yahoo! believe that this deal will create a sustainable and more compelling alternative in search that can provide consumers, advertisers and publishers real choice, better value, and more innovation.

“Yahoo! and Microsoft welcome the broad support the deal has received from key players in the advertising industry and remain hopeful that the closing of the transaction can occur in early 2010.”

Now, all they wait for is for approval from the various bodies of law in the U.S. and abroad.

A Bing powered Yahoo Search is just another step closer.

Forum discussion at WebmasterWorld and DigitalPoint Forums.