Facebook Acquires AOL Patents From Microsoft For $550 million
Today Facebook has announced that they have officially made a deal with Microsoft for acquiring some AOL patents. According to the reports Facebook has given $550 million in cash to Microsoft and finished the deal.
With this new deal, Facebook has taken control of 650 AOL patents and patent applications along with a license to the AOL patents and applications that Microsoft will purchase and own.
“Today’s agreement with Microsoft represents an important acquisition for Facebook,” said Ted Ullyot, general counsel, Facebook. “This is another significant step in our ongoing process of building an intellectual property portfolio to protect Facebook’s interests over the long term.”
[Via: Microsoft, Facebook Announce Patent Agreement Facebook- NewsRoom]
[Image Credit: Flickr User Andrew Feinberg]
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