AOL selling patents to Microsoft in $1 billion deal

Updated on: 2012-04-09 || Source:

NEW YORK (CNNMoney) -- AOL said early Monday that it was selling hundreds of patents to Microsoft Corp. for more than $1 billion, sending shares of AOL surging in premarket trading.

AOL (AOL) agreed to sell more than 800 patents to Microsoft (MSFT,Fortune 500) for $1.056 billion in cash. AOL also granted a non-exclusive license to Microsoft for the rest of its patents.

The remaining 300 or so patents in AOL's portfolio include software technologies related to advertising, search, social networking, mapping, streaming, security and so on.

Shares of AOL spiked 36% in premarket trading.

The deal is expected to be completed by the end of the year, pending regulatory approvals.

Microsoft was unavailable for immediate comment.

Patent trolls cost investors $500 billion

This deal is the latest involving patent sales among high profile tech companies.

Apple (AAPL, Fortune 500) and Microsoft were among several firms to buy patents from the bankrupt Nortel for $4.5 billion.

Google (GOOG, Fortune 500) bought Motorola Mobility (MMI) and its portfolio of 17,000 patents for $12.5 billion.


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