logo
Plus   Neg
Share
Email
Comment

AOL To Sell, License Patents To Microsoft In $1.06 Bln Cash Deal - Quick Facts

Web service company AOL, Inc. (AOL) on Monday said it has entered into a definitive agreement to sell over 800 of its patents and their related patent applications to Microsoft Corp. (MSFT). The company would also grant Microsoft license to more than 300 additional patents and patent applications. The aggregate proceeds of the deal would be $1.056 billion in cash.

The company expects the deal to be completed by the end of 2012, upon the satisfaction of customary conditions and regulatory approvals.

Following the sale, AOL will continue to hold a significant patent portfolio of over 300 patents and patent applications spanning core and strategic technologies. These include advertising, search, content generation/management, social networking, mapping, multimedia/streaming, and security among others.

AOL also received a license to the patents being sold to Microsoft.

AOL added that its management and its Board of Directors intend to return a significant portion of the sale proceeds to shareholders and will determine the most efficient and effective method to do so prior to the closing of the deal.

Pro forma for the sale and license, as of December 31, 2011, AOL would have had approximately $15 per share of cash on hand, it said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Dish Network Corp. on Wednesday reported a surge in profit for the fourth quarter from last year, reflecting an income tax benefit that helped offset the impact of lower revenues. The latest quarter's results were positively impacted by an income tax benefit of about $1.2 billion due to an adjustment to deferred tax assets and liabilities related to tax reform legislation. Shares of Glencore plc were gaining around 4 percent in the morning trading in London after the producer and marketer of commodities reported Wednesday a significant growth in fiscal 2017 profit on strong higher commodity prices. Chief Executive Officer Ivan Glasenberg said, "Our performance in 2017 was our strongest on record, driven by our leading Marketing and Industrial asset businesses." Shares of Orange SA were gaining around 2 percent in the early morning trading in Paris after the French telecom major reported Wednesday a significant growth in fiscal 2017 profit from continuing operations with revenue growth in most regions, mainly France and Spain. In France, revenue grew for the first time since 2009. Attributable net income, meanwhile, declined on the absence of prior
comments powered by Disqus
Follow RTT