AOL has announced a $1 billion deal with Microsoft on Monday. In return for the huge chunk of money, Microsoft will receive 800 patents and patent applications from AOL.

In addition, Microsoft will be granted a non-exclusive license to the patents that AOL retains. The deal will cost Microsoft $1.056 billion in cash.

According to cnet, AOL will only hold 300 patents and patent applications related to advertising, search, and other technologies after the deal is finalized.

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