Facebook Paying Microsoft $550 Million to Get Its Hands on Hundreds of Former AOL Patents

AllThingsD - Facebook and Microsoft are about to announce a deal where the social networking giant pays Redmond $550 million for access to more than 600 patents, AllThingsD has learned.

The deal comes as the social network prepares for its initial stock offering and looks to protect itself in an increasingly litigious intellectual property environment. Yahoo sued Facebook last month, alleging infringement of 10 patents.

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