RENEE MONTAGNE, HOST:
Moving on to another billion dollar tech deal, Microsoft has agreed to pay AOL over $1 billion for hundreds of patents. Microsoft outbid several rivals, including Amazon and eBay, in a deal which saw AOL's stock price jump by over 40 percent. The over 800 patents include internet search, email and customized advertising and are seen as a push by Microsoft into the lucrative smartphone and tablet market.
For AOL, the sale is seen as part of its continued transformation into a media company. Transcript provided by NPR, Copyright National Public Radio.