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.