US software giant Microsoft will team up with Renren to integrate their social-networking services in China, the companies announced Wednesday.

The two firms announced in a joint statement a "strategic cooperation" between Renren and MSN China, which runs Microsoft's online business in China.

Under the deal, Renren and MSN China will share a wide range of applications and services across their platforms, including unified account log-in, content synchronization, and finding and communicating with friends.

Renren, whose name means "everyone" in English, was founded in 2005, a year after the launch of Facebook.

It is the leading social-networking Internet firm in China, where its US rival is subject to government censorship.

Renren reported 124 million active users on June 30 and a sign-up rate of two million new participants a month.

The Chinese firm debuted on the New York Stock Exchange in early May.

In morning trade in New York, Renren shares were up 1.5 percent at $7.41, while Microsoft fell 0.5 percent to $24.60.