By Jeff Labrecque
Updated July 29, 2009 at 05:33 PM EDT

Microsoft and Yahoo have joined forces in an effort to challenge Google, the dominant online search engine with 65 percent market share. The Associated Press reports a 10-year deal that calls for Yahoo to adopt Microsoft’s new Bing search engine and for Yahoo to keep 88 percent of all the revenues from its search ads sales for the next five years. The long-rumored deal comes a year after Microsoft offered $47.5 billion outright for Yahoo.