AOL announced Monday that it will sell more than 800 of its patents and their related patent applications to Microsoft for $1.056 billion in cash.
Under the deal, AOL also will grant Microsoft a non-exclusive license to its retained patent portfolio of more than 300 patents and applications, including technologies relating to advertising, search, social networking, mapping and multimedia streaming, the company said.
Continue ReadingAOL also receives licensing to the patents it will sell to Microsoft as part of the transaction.
?We continue to hold a valuable patent portfolio as highlighted by the license we entered into with Microsoft,? AOL Chairman and CEO Tim Armstrong said in a release.
?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,? Armstrong added.
This article first appeared on POLITICO Pro at 8:06 a.m. on April 9, 2012.
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