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).
Facebook has agreed to acquire photo sharing service Instagram. Two-year-old Instagram offers iOS and Android apps for taking photos, adding effects and then sharing the results online.
Instagram is expected to continue as an independent application.
Mark Bridge writes:
Easter is often seen as a time for customs and rules – whether it’s giving up sugar for Lent or waiting until Sunday morning to eat your chocolate eggs – and this year the mobile industry seems to have joined in.