Microsoft Sells Facebook Patents For $550 Million

Microsoft has been having a great run recently, and today the company announced that it will be selling off patents to Facebook for $550 million. Microsoft outbid Facebook earlier this month for 800 patents from AOL. Microsoft will keep around 275 of the original patents procured, and will be selling the rest to Facebook.

Brad Smith, executive vice president and general counsel for Microsoft speaks about the deal:

“Today’s agreement with Facebook enables us to recoup over half of our costs while achieving our goals from the AOL auction…As we said earlier this month, we had submitted the winning AOL bid in order to obtain a durable license to the full AOL portfolio and ownership of certain patents that complement our existing portfolio”

Facebook’s Ted Ullyot said, “Today’s agreement with Microsoft represents an important acquisition for Facebook…This is another significant step in our ongoing process of building an intellectual property portfolio to protect Facebook’s interests over the long term.”

The news was announced today on Facebook.

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