Facebook Buys $550 Million in Patents From Microsoft
Apr 24, 2012 13:14
Facebook signed an agreement with Microsoft to acquire $550 million in patents, the companies announced on Monday. The patents were part of the $1.065 billion in patents Microsoft purchased from AOL earlier this month. Patent trading!
Microsoft took ownership of approximately 925 U.S. patents and patent applications in addition to a license to AOL's remaining patent portfolio of about 300 patents. Now, Facebook has taken possesion of 650 of those patents.
This leaves Microsoft with 275 of the original patents and applications it bought from AOL, and they will retain a licence to 640 of patents and applications now owned by Facebook. 300 in addition to the 300 or so AOL patents it gained a license to earlier.
“Today’s agreement with Facebook enables us to recoup over half of our costs while achieving our goals from the AOL auction,” Brad Smith, executive vice president and general counsel of Microsoft, said in the release.
Sources familiar with the details of the earlier deal told Bloomberg Businessweek that Microsoft did not intend to keep all of the patents it acquired from AOL and that Facebook made a bid for those same patents before but their bid was too low.
Planning on traveling soon? Whether you’re going near or far, get your smartphone ready for the occasion. There are tons of travel apps for both Apple and Android devices. They can help you plan your trip, get cheap deals and find things to do on your holiday. Here are some travel apps you should download right now. Read more
While it’s pretty clear that smiling is a way to outwardly express that you’re happy whether you are or not, some interesting studies have been done that show that smiling may actually influence your mood, making you happier even if you are simply faking it. Read more
Marketing has been a cornerstone of business for decades but it has undergone a rapid transformation during the last decade due to the digital revolution. Modern enterprises now have the opportunity to connect and engage with potential customers via a vast number of different platforms due to the advent of the Internet, proliferation of mobile tech and apps, big data and the rise of social media. Read more