BY KRISTIN JONES
AOL Inc. agreed Monday to sell more than 800 patents and related applications, along with a nonexclusive license to its remaining portfolio of patents, to Microsoft Corp. for about $1.1 billion.
The news sent AOL shares surging as the online media company said it intends to return a "significant portion" of the sale proceeds to shareholders. The deal comes six weeks after activist shareholder Starboard Value LP, which is mounting a proxy contest for seats on AOL's board, highlighted AOL's patent portfolio as an "underutilized" asset and complained that the company wasn't acting to realize value from the patents.
At ...
BY KRISTIN JONES
AOL Inc. agreed Monday to sell more than 800 patents and related applications, along with a nonexclusive license to its remaining portfolio of patents, to Microsoft Corp. for about $1.1 billion.
The news sent AOL shares surging as the online media company said it intends to return a "significant portion" of the sale proceeds to shareholders. The deal comes six weeks after activist shareholder Starboard Value LP, which is mounting a proxy contest for seats on AOL's board, highlighted AOL's patent portfolio as an "underutilized" asset and complained that the company wasn't acting to realize value from the patents.
At ...
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