There is more than one way to make money in the tech field. AOL’s attempts to shift from a dialup Internet service provider to content king has had mixed success. But it has a trove of valuable patents – and just sold more than $1 billion worth to Microsoft.

AOL Inc. (NYSE: AOL)  entered into a definitive agreement to sell over 800 of its patents and their related patent applications to Microsoft Corporation (NASDAQ: MSFT) and to grant Microsoft a non-exclusive license to its retained patent portfolio for aggregate proceeds of $1.056 billion in cash.

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