The transaction will be completed later this year, AOL provides a “significant return” of the operation on behalf of shareholders, has stated today the Wall Street Journal.
“The agreement with Microsoft represents the culmination of a robust sales program our patent portfolio,” said AOL CEO Tim Armstrong.
For its part, Microsoft’s general counsel, Brad Smith, said that the operation be made to assume “a valuable portfolio” that the software giant “has been following for years and analyzed in detail for months.”
The portfolio of patents and patent applications that portal, whose income has fallen 58% in the last five years, including those related to advertising, search and content generation, social networking and technology related to the maps.
The agreement between AOL and Microsoft comes at a time when the first-that in December 2009 was separated from the media and entertainment group Time Warner – has a strong competition with rivals such as Google and Yahoo!, and when in the sector are producing various agreements on patents.
Category: Business News