AOL Sells 800 Patents to Microsoft for $1.056 Billion

AOL agreed to sell a portfolio of over 800 patents, and license about 300 more, to Microsoft for $1.056 billion, amid an arms race within the technology industry over intellectual property. Under the terms of the transaction, AOL will retain a license for the patents it is selling, while Microsoft will receive a nonexclusive license for the technologies AOL is retaining.