TweakTown
Tech content trusted by users in North America and around the world
6,201 Reviews & Articles | 40,023 News Posts
TRENDING NOW: Samsung wants the US government to block GeForce GPU shipments

Facebook purchases $550 million worth of patents from Microsoft, who obtained them from AOL just two weeks ago

Facebook inks deal to acquire patents from Microsoft in a deal worth $550 million

| Business, Financial & Legal News | Posted: Apr 24, 2012 6:28 am

Ahead of their planned public offering which is poised to take form next month, social networking giant Facebook have just inked a deal to purchase a slew of patents from Microsoft.

 

TweakTown image news/2/3/23719_07_facebook_purchases_550_million_worth_of_patents_from_microsoft_who_obtained_them_from_aol_just_two_weeks_ago.jpg

 

Facebook have reportedly handed over $550 million in cash for a selection of patents that Microsoft only obtained from AOL two weeks ago in a deal valued at $1 billion. The original $1 billion deal saw AOL shares jump 37-percent, while retaining perpetual licensing to the IP sold.

 

Microsoft were then able to grab back over half of what they paid AOL for the patents, with Microsoft executive vice president and general counsel Brad Smith telling All Things D that Redmond never felt it was necessary or important to own all of the patents.

NEWS SOURCES:Techspot.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases