Facebook said today that it would pay Microsoft $550m for some of the patents the software giant recently acquired from AOL.
Facebook will pick up around 650 of the 925 patents Microsoft bought earlier this month in an auction from AOL in a nearly $1.1 billion deal.
Facebook's general counsel called the move a ''significant step in our process of building an intellectual property portfolio to protect Facebook's interests in the long term".
"Today's agreement with Facebook enables us to recoup over half of our costs while achieving our goals from the AOL auction," added Microsoft executive vice president Brad Smith.
