AOL sells 800 patents to Microsoft in $1 billion deal
AOL sells 800 patents to Microsoft in $1 billion deal
AOL and Microsoft on Monday announced an agreement in which the software giant will purchase 800 patents from AOL in a $1.056 billion cash deal. Microsoft will also license more than 300 additional patents from AOL as part of the agreement. “The agreement with Microsoft represents the culmination of a robust auction process for our patent portfolio,” said Tim Armstrong, AOL’s chairman and CEO. “We continue to hold a valuable patent portfolio as highlighted by the license we entered into with Microsoft. The combined sale and licensing arrangement unlocks current dollar value for our shareholders and enables AOL to continue to aggressively execute on our strategy to create long-term shareholder value.” The portfolio sold relates to advertising, search, content generation and management, social networking, mapping, multimedia/streaming and security. The sale is expected to be completed by the end of 2012, pending regulatory approval. Read on for AOL’s press release. More →












