updated 4/23/2012 12:31:56 PM ET 2012-04-23T16:31:56

Microsoft, which just bought patents from AOL for $1 billion, is now turning around and selling most of them to Facebook for $550 million.

Microsoft and Facebook said Monday that Facebook is buying about 650 of the 925 AOL patents and patent applications Microsoft bought.

Facebook will also get a license to use the rest of the AOL Inc. patents. Similarly, Microsoft Corp. will get a license to use the patents Facebook is buying. This part of the arrangement amounts to an agreement between Facebook and Microsoft not to sue each other over any of the AOL patents.

Microsoft says the deal enables it to recoup half the cost of the AOL deal while reaching its goals for the purchase.

(Msnbc.com is a joint venture of Microsoft and NBC Universal.)

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.11%
$30K home equity loan FICO 5.19%
$75K home equity loan FICO 4.65%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.36%
13.34%
Cash Back Cards 17.84%
17.82%
Rewards Cards 17.09%
17.07%
Source: Bankrate.com