Reuters: Facebook is buying 650 patents from Microsoft and licensing 275 more in a deal worth $550 million. Microsoft had recently purchased the patents, along with many others, from AOL for $1 billion. Brad Smith, Microsoft's General Counsel, said the deal allows Microsoft "to recoup over half of our costs while achieving our goals from the AOL auction."
Facebook is currently involved in a patent lawsuit with Yahoo. Last month, the social network also bought 750 patents from IBM.