Yahoo Inc. (NASDAQ: YHOO) is trying to sell more than 3,000 patents in a public auction, which is expected to raise about $1 billion. Some of these patents will include yahoo’s original search technology and date back to 1996, when Yahoo launched initial public offering.
“Yahoo is exploring the divestiture of a portfolio of more than 3,000 patents and pending applications covering a wide range of technology, including early-filed internet search, advertising and cloud technology,” according to a Yahoo spokeswoman.
Verizon Communications Inc. (NYSE: VZ) is willing to bid about $3 billion, making them the leading candidate for their internet properties before the Monday deadline for second-round bids, a person familiar with the matter told The Wall Street Journal. Alphabet Inc. (NASDAQ: GOOGL) and Microsoft Corp. (NASDAQ: MSFT) are also the potential buyers for Yahoo’s patents.
Moreover, the Silicon Valley-based company is also in the process of a second round of bidding for its core business, with about 500 U.S. patents and over 600 U.S. pending applications, which these patents include e-commerce, online advertising technology, search and content areas such as Yahoo Finance and Yahoo Sports.
“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,” said by the company.
Yahoo has hired Black Stone IP, a boutique investment bank that specialized in patent sales to run the auction in a mid-June deadline for preliminary bids.