In April, AOL announced plans to sell off over 800 of its patents to Microsoft
. Today, AOL announced that deal has officially concluded
, with Microsoft paying AOL $1.056 billion for the rights to all those patents. AOL also gets a license to those same patents it sold to Microsoft
AOL has already announced that it plans to use Microsoft's money in order to pay back its shareholders in some way. AOL said that it will reveal its plans in more detail by the end of the month. AOL added that it still holds the rights to over 300 other patents involving "advertising, search, content generation/management, social networking, mapping, multimedia/streaming, and security."