©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
IDG News Service
IDG News Service – AOL has entered into a definitive agreement to sell over 800 of its patents and their related patent applications to Microsoft, it said Monday. The sale of patents and a non-exclusive license to its retained patent portfolio will fetch the company over US$1 billion in cash, AOL said.
Ailing AOL has been trying to sell its patents to raise cash, and the deal with Microsoft reflects growing interest from technology companies to acquire patent portfolios both to counter and deter patent litigation.