AOL to sell patents to Microsoft

Filed under: AM Roundup |

AOL, once a leader on the Internet, has been faltering in recent years,  and now will sell and license patents to Microsoft for $1.06 billion, according to Bloomberg News.

The deal will allow AOL to restructure the company by selling more than 800 patents and licenses to Microsoft.

The transaction lets New York-based AOL generate additional funds amid slow advertising growth and a decline in its dial-up Internet subscribers.

Read more at Bloomberg.