SAN FRANCISCO April 23, 2012 $550 million
As a result of today’s agreement, Facebook will obtain ownership of approximately 650 AOL patents and patent applications, plus a license to the AOL patents and applications that Microsoft will purchase and own.
After closing the transaction, Microsoft will retain ownership of approximately 300 AOL patents and applications; a license to the approximately 650 AOL patents and applications that will now be owned by Facebook; and a license to approximately 300 patents that AOL did not sell in its auction.
The transaction is also subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Bruce Deming Ingrid Rechtin Brad Chernin Andrew Hall Robert Heller Sarah Burnham Evan Cox Amy Toro Jeff Davidson Ken Ebanks Paula Domingos Miranda Cole
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SOURCE Covington & Burling