AOL To Sell 800 Patents To Microsoft For $1 Billion

The second logo for AOL, used from 2006–2009

The second logo for AOL, used from 2006–2009 (Photo credit: Wikipedia)

(Reuters) – AOL Inc said it would sell over 800 of its patents and related applications to Microsoft Corp , and would grant Microsoft a non-exclusive license to the patents it retains, for slightly over $1 billion in cash.

AOL’s shares jumped 37 percent to $25.16 in trading before the bell on Monday. They closed at $18.42 on Friday on the New York Stock Exchange.

The Internet company said it plans to return a “significant portion of the sale proceeds” to shareholders.

Read more: http://www.mcall.com/business/sns-rt-us-aol-microsoftbre83809x-20120409,0,3464198.story

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