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Yahoo! Inc and Microsoft Corp, the two internet firms are all set to take their search-advertisement �alliance forward as the companies have received clearance from the U.S. Department of Justice and the European Commission.

Microsoft and Yahoo! announced 10-year search-advertising agreement in July, 2009 in order to counter Google’s dominance in the internet world. After receiving the approval from the U.S. Department of Justice and the European Commission both the companies turn their attention to beginning the process of implementing the deal.

The deal would see transitioning Yahoo!’s algorithmic and paid search platforms to Microsoft, with Yahoo! becoming the exclusive relationship sales force for both companies’ premium search advertisers globally, says the two companies in a joint press statement. These changes would provide a more enriched web search experience to the consumers, more efficiency for the advertisers as well as more monetization opportunities for the web publishers, as the companies feel.

“This breakthrough search alliance means Yahoo! can focus even more on our own innovative search experience,” said Yahoo! Chief Executive Officer Carol Bartz in a prepared statement. “Yahoo! gets to do what we do best: combine our science and technology with compelling content to build personally relevant online experiences for our users and customers.”

Microsoft CEO Steve Ballmer concurred with Bartz’s assessment. “Although we are just at the beginning of this process, we have reached an exciting milestone,” Ballmer said. “I believe that together, Microsoft and Yahoo! will promote more choice, better value and greater innovation to our customers as well as to advertisers and publishers.”