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AOL, lacking better options, hires firm to sell its patents
AOL is said to have hired Evercore Partners to help it shop around its patent portfolio in hopes of making up for declining dial-up revenues.
AOL’s effort to sell off a chunk of its patent portfolio keeps chugging ahead. The company has now reportedly hired investment banking advisory firm Evercore Partners to help strike a deal.
Citing three people with knowledge of the hire, Bloomberg says AOL tapped Evercore to find a buyer for more than 800 patents and to “explore other strategic options” — code for a possible sale or private buyout of the entire company.
