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)

BMW joins hands with fashion designers to boost sales May 29, 9:54 pm
New Delhi, May 29 (ANI): German automobile manufacturing company BMW on Friday launched the updated ‘6 Series Gran Coupe’ in India, as well as launching the BMW India Bridal Fashion week.
Full Story
USIBC, FICCI host first Smart Cities Conclave for Ajmer May 29, 7:43 pm
Ajmer (Rajasthan), May 29 (ANI): The U.S.-India Business Council (USIBC) and FICCI on Friday held a Smart Cities Conclave for Ajmer with senior representatives from the Rajasthan and the U.S. Government present during the conference.
Full Story
Apple acquires augmented reality startup Metaio, says report May 29, 5:31 pm
Washington, May 29 (ANI): Apple has reportedly acquired the augmented reality startup, Metaio, which was founded in 2003 as an offshoot of a project at Volkswagen.
Full Story
Sify's Cloud enablement of MP SDC wins 'Best Cloud Solution Implementation' award May 28, 8:55 pm
Chennai, May 28 (ANI): Sify Technologies Limited, a leader in Managed Enterprise, Network, IT and Software services with global delivery capabilities, on Thursday announced that its solution to Cloud-enable the Madhya Pradesh State Data Centre (SDC) was awarded Best Cloud Solution Implementation award at the Elets Knowledge Exchange 2015 held recently in Goa. Sify received the recognition for its deployment and management of 'Cloudinfinit' platform and solutions that have helped the SDC transform into a robust IT Services provider for various government departments.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY