Facebook buys AOL patents from Microsoft for $550 mln

   Apr 24, 11:38 am

Washington, Apr 24 (ANI): Social networking giant Facebook is paying Microsoft 550 million dollars to buy a chunk of the patent that the software firm recently acquired from AOL.

According to a Facebook lawyer, the deal is 'another significant step in the ongoing process of building an intellectual property portfolio to protect Facebook's interests.'icrosoft bought 925 patents and patent applications from New-York based Internet company AOL.

According to The BBC, it is now selling 650 of those patents to Facebook as well as licences to the other 275.

Microsoft 's general counsel Brad Smith said that the agreement with Facebook enables 'the firm to recoup over half of their costs while achieving their goals from the AOL auction.'

There has been a series of recent patent deals between technology companies as they try to defend themselves in lawsuits.

Facebook, which was sued by Yahoo for patent infringement earlier this year, bought a number of patents from IBM last month. (ANI)

Expenditure on digital ads to surpass TV in U.S. by 2017: Magna Global Aug 27, 3:34 pm
Washington, Aug 27 (ANI): Expenditure on digital advertising would exceed Television ad spending in the United States in 2017, predicts Magna Global in its recent forecast on Tuesday.
Full Story
Customer satisfaction remains prime focus for Japanese service providers Aug 25, 4:50 pm
Tokyo, Aug 25 (ANI): Tokyo, the mega city, is known for its best telecommunication services.
Full Story
Todd Park planning to step down as America's Chief Technology Officer Aug 24, 12:56 pm
Washington, Aug 24 (ANI): The White House's Chief Technology Officer, Todd Park, is reportedly planning to step down from his position as an advisor to President Barack Obama by the end of the year.
Full Story
Microsoft pays no taxes on 93 billion dollars held outside of U.S. Aug 23, 1:54 pm
Washington, Aug 23 (ANI): Tech giant Microsoft saves almost 30 billion dollars by avoiding taxes and holds income accounts of 92.9 billion dollars outside of the United States.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY