NEW YORK: The software giant is spending $1.1bn to buy some 800 patents from AOL. At over $1mn apiece, the rate tops even the huge ones paid last year for intellectual property for mobile phones. This first salvo in the Internet space throws down the gauntlet at Google and Facebook.
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CONTEXT NEWS
- AOL said on April 9 it would sell over 800 patents to Microsoft and grant the software giant non-exclusive license to the more than 300 patents it retains for $1.1 billion. AOL plans to use about $40 million of deferred tax assets to offset taxes incurred from the deal.
- The Internet firm said it plans to return a significant portion of the proceeds to shareholders. Including the sale proceeds, AOL would have about $15 a share of cash on hand. AOL shares surged 42 percent on the news to more than $26 per share.
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