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Monday, April 9, 2012

AOL and Microsoft announce billion-dollar patent agreement

AOL has agreed to sell over 800 of its patents and associated patent applications to Microsoft, with Microsoft also being given permission to use the patents AOL is keeping. The total deal is worth $1.056 billion (£664 million).

Over 300 patents and applications will remain in AOL’s portfolio following the sale. A ‘significant portion of the sale proceeds’ will then be returned to shareholders.

Tim Armstrong, AOL’s Chairman and CEO, said “The agreement with Microsoft represents the culmination of a robust auction process for our patent portfolio. 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 transaction is expected to be completed by the end of the year, subject to regulatory approval.

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Author: The Fonecast
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