Google was reportedly facing competition from Yahoo! and Bing, which is what led to the price of the deal driven high.
The new search deal is higher than prior agreements between Mozilla and Google, with the former keeping its main revenue driver for multiple years to come. A report by All Things D claims that Google provided around 84% of Mozilla's 2010 revenue ($123 million / £78 million).
As the firm is non-profit, the deal with Google keeps it floating for the period of the agreement.
Google will now be Mozilla Firefox's default browser for the next three years.
"We're pleased to announce that we have negotiated a significant and mutually beneficial revenue agreement with Google," said Mozilla through a blog post.
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