The intellectual property covers key areas like search, social networking and advertising (AOL will be keeping more than 300 other patents).
And yes, investors definitely like AOL’s move. In early Monday trading, the shares are up a whopping 41% to $26.
AOL plans to distribute a “significant” portion of the proceeds back to shareholders. This is likely the best course of action, considering the company has had a miserable track record with acquisitions.