AOL selling patents to Microsoft
AOL Inc. said it would sell more than 800 of its patents and related applications to Microsoft Corp. and would grant Microsoft a non-exclusive license to the patents it retains, for slightly over $1 billion in cash, Reuters reported. The Internet company said it plans to return a “significant portion of the sale proceeds” to shareholders. AOL said it will continue to hold more than 300 patents, including advertising, search, and mapping, and that it received a license to the patents being sold to Microsoft.
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