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Facebook buys AOL patents from Microsoft for $550 mln | Social networking giant Facebook is paying
Microsoft 550 million dollars to buy a chunk of the patent that the software firm
recently acquired from AOL. According to a Facebook lawyer, the deal is 'another
significant step in the ongoing process of building an intellectual property portfolio
to protect Facebook's interests.' Microsoft bought 925 patents and patent applications
from New-York based Internet company AOL. According to The BBC, it is now selling
650 of those patents to Facebook as well as licences to the other 275. Microsoft's
general counsel Brad Smith said that the agreement with Facebook enables 'the
firm to recoup over half of their costs while achieving their goals from the AOL
auction.' There has been a series of recent patent deals between technology companies
as they try to defend themselves in lawsuits. Facebook, which was sued by Yahoo
for patent infringement earlier this year, bought a number of patents from IBM
last month.
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