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AOL sells Patents to Microsoft in $1.04 billion

 

AOL the major online media giant announced that they have decided to sell their major patents to Microsoft in $1.04 billion. The premise  for this deal is the pressure from shareholders because of the stagnant share prices. AOL will receive $1.04 billion cash, license of all the patents and AOL will also be able to hold the patent portfolio of 300 patents and its application related to core and strategic technology.

It is the second big story in technology sector after Sony announced the layoff of 6% of  its workforce by the end of this year. Major portions of the money from AOL and Microsoft deal will be given to shareholder. This story is also trending on twitter under #Microsoft.

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