AOL

Facebook buys AOL patents from Microsoft

Facebook buys AOL patents from Microsoft

Facebook has confirmed that it has agreed to purchase a portion of AOL patents from Microsoft, a move that is expected to strengthen the social-networking firm's position against Yahoo in the intellectual property battle.

The world's biggest social network will purchase 650 of the AOL patents and patent applications in a $550 million deal. Microsoft will retain 275 AOL patents. The software giant had acquired the patents from AOL auction.

The software giant will also keep hold of licenses for three hundred additional patents that have been retained by AOL.

AOL Sells Bebo to Criterion for Less Than $10 Million

AOL Sells Bebo to Criterion for Less Than $10 Million

Time Warner Inc. owned by AOL Inc. will sell its social networking website Bebo for less than 2% of the price it paid for the company to Criterion Capital Partners LLC. AOL bought the site for $850 million and sold it for $10 million. The move gave AOl a tax benefit and saw its benefits increase this quarter from $275 million to $325 million.

“Criterion Capital Partners are specialists in facilitating growth plans and turnarounds,” AOL’s CEO Tim Armstrong said. “For AOL, the transaction will also create a meaningful tax deduction.”