24 Apr '12, 3am

AFPFacebook to pay Microsoft S$687mAsiaOneSAN FRANCISCO - Facebook struck a US$550 million(S$687 million) deal M...

AFPFacebook to pay Microsoft S$687mAsiaOneSAN FRANCISCO - Facebook struck a US$550 million(S$687 million) deal M...

SAN FRANCISCO - Facebook struck a US$550 million (S$687 million) deal Monday to get its hands on hundreds of AOL patents from Microsoft as the social network hardened its defenses before it goes public on the Nasdaq. Facebook will pick up around 650 of the 925 patents Microsoft bought earlier this month in an auction from AOL in a nearly US$1.1 billion deal, Facebook and Microsoft said in a statement. Facebook's general counsel called the move "another significant step in our ongoing process of building an intellectual property portfolio to protect Facebook's interests over the long term." "Today's agreement with Facebook enables us to recoup over half of our costs while achieving our goals from the AOL auction," added Microsoft Executive Vice President Brad Smith. Facebook also arranged to license the remaining 275 remaining patents or applications in the portfolio being ...

Full article: http://www.asiaone.com/News/Latest%2BNews/Science%2Band%2...

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