Microsoft and Yahoo have received clearance from regulators in Washington and Europe to proceed with a search partnership intended to challenge industry giant Google .
The companies announced Thursday that the partnership has been approved without restrictions by the Justice Department and the European Commission.
Under the 10-year agreement, Microsoft's Bing search engine will process all search requests and steer search-related ads on Yahoo .
The companies said they will begin implementing the deal in the coming days and expect to complete the process by early 2012.