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Facebook to acquire 750 Patents from IBM

Facebook to acquire 750 Patents from IBM

Here is the latest report that World’s largest Social Networking site Facebook has recently acquired 750 patents from IBM (International Business Machine) and according to a report from Bloomberg, they has acquired 750 patents from IBM to adding intellectual property that may help it counter allegations of patent infringement, a person with knowledge of the transaction said.

“This is a very big deal,” said Gill, who is chief intellectual property officer at MDB, an investment bank focused on intellectual property. While it’s not clear how strong the patents are, “Facebook is now where it’s supposed to be.”

The Yahoo suit involves patents covering Internet privacy, advertising and information sharing. Sunnyvale, California-based Yahoo asked for an order barring Facebook from infringing the 10 patents. It’s seeking triple damages.

Jonathan Thaw, a spokesman for Menlo Park, California-based Facebook, declined to comment, as did Ed Barbini, a spokesman for IBM.

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Avinash Saxena is a blogger addicted to blogging and passionate to blog about latest technology, products and services.

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