AOL Inc said it would sell over 800 of its patents and related applications to Microsoft Corp , and would grant Microsoft a non-exclusive license to the patents it retains, for slightly over $1 billion in cash. The patent sale includes the sale of an AOL subsidiary on which AOL expects to record a capital loss for tax purposes, AOL said in a statement.
AOL Inc. (AOL) is a global Web services company with a range of brands and offerings and a global audience. Shares of AOL remained unchanged at $18.42. In the past year, the shares have traded as low as $10.06 and as high as $22.47. On average, 1342360 shares of AOL exchange hands on a given day and today's volume is recorded at 5100.
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