What Does Google See in Yahoo?

Google (NASDAQ:GOOG) is marching forward with its Internet advertising dominance. This week, the technology giant cemented a partnership with Yahoo (NASDAQ:YHOO) and overhauled its AdWords search advertising platform, a move with the potential to increase its mobile ad revenues.

Yahoo, run by former Google employee Marissa Mayer, announced in a statement seen by TechCrunch that it had signed a nonexclusive agreement to display Google’s advertisements on unspecified Yahoo Web properties “and certain co-branded sites” using Google’s AdSense and AdMob platforms, which together allow the company to serve automatic targeted ads to users on both traditional computers and mobile devices.

The deal could potentially lead to a closer relationship between Google and Yahoo, reported TechCrunch. Currently, Yahoo has a long-term deal with Microsoft (NASDAQ:MSFT) to handle its search advertising business, but Mayer has publicly expressed her dissatisfaction with the partnership, as users and advertisers get better results from Google…