The Financial Express (Delhi Edition)
Yahoo offering over 3,000 patents amid strategic reviews
San Francisco, June 8: Yahoo! is exploring the sale of more than 3,000 patents as part of an effort begun earlier this year to look into ways to monetise its intellectual property.
The company has extended efforts on the divestiture of patents and pending patents held by its Excalibur unit that include search, advertising and cloud-based technology, the company said in an emailed statement. There is no reserve price or guidance.
Yahoo said earlier this year it would review the disposal of non-strategic assets, including patent and real estate holdings. At the time, it said proceeds could be $1 billion to $3 billion.
Under chief executive officer Marissa Mayer, the company is reviewing its core internet assets after pressure from investors and a failed turnaround. Bidders have included TPG, Verizon Communications and a consortium led by Bain Capital and Vista Equity Partners, people familiar with the matter have said. Berkshire Hathaway Chairman Warren Buffett is also backing a group bidding for Yahoo’s web assets.
Yahoo has hired boutique investment bank Black Stone to sell the patents with bids due by mid-June, the Wall Street Journal reported. The Sunnyvale, California-based company is retaining more than 1,000 patents with its core business.
“This represents a unique opportunity for companies operating in the internet industry to acquire some of the most pioneering and foundational patents related to web search and advertising,” the company said. Bloomberg