AOL sells 800 patents to Microsoft in $1bn deal
AOL has agreed to sell more than 800 technology patents to Microsoft as part of a $1.06bn (£670m) cash deal following an auction process.
AOL did not reveal specific information about the scope of the patents, but according to Reuters they include technology rights from AOL's current and former businesses, ranging from Netscape, ICQ and MapQuest to CompuServe, Advertising.com and others.
AOL said it would continue to hold a portfolio of more than 300 patents and patent applications spanning advertising, search, content generation/management, social networking, mapping, multimedia/streaming and security.
The deal includes a non-exclusive licence for Microsoft to these retained patents.
AOL intends to return "a significant portion" of the proceeds to its shareholders.
Last month Facebook bought a series of patents from IBM in the wake of a lawsuit being filed against it by Yahoo.
Follow Daniel Farey-Jones on Twitter @danfareyjones
This article was first published on marketingmagazine.co.uk
- Senior Digital Designer Twist Recruitment £35000 - £42000 per annum + benefits, City of London
- Digital Marketing Executive Blue Skies Marketing Recruitment £25000 - £30000 per annum, Peterborough
- Technical SEO Account Manager - Leading Mid-size Agency Ultimate Asset £30000 - £38000 per annum + Amazing Benefits, London
- Brand Manager Blue Skies Marketing Recruitment £35000 - £50000 per annum, Ipswich
- Marketing Services Manager, Leisure Blue Skies Marketing Recruitment £40000 - £50000 per annum, London
- Group M wins Vodafone's £600m media account
- Google becomes major UK advertiser after boosting spend by 50% in 2013
- Campaign Viral Chart: Evian's Spider-Man tops chart in week of movie premiere
- Tait replaces Papworth as W&K's ECD
- M&S moves £60m media account to Mindshare
- MEC boss Courtier hails £600m Vodafone media win as 'life changing'