Facebook Said to Acquire 750 Patents From IBM Amid Lawsuits

Facebook acquired 750 patents from International Business Machines, adding intellectual property that may help it counter allegations of patent infringement, a person with knowledge of the transaction said.

The patents cover various technologies such as software and networking, said the person, who asked not to be identified because the deal hasn't been made public. The acquisition would swell the size of Facebook's portfolio, which includes at least 56 issued patents and 503 filed U.S. patent applications. Facebook is bolstering its legal defenses amid a standoff with rivals that have broader intellectual property portfolios. Yahoo! Inc. sued Facebook this month, accusing it of infringing patents covering critical website functions. Facebook may have shelled out hundreds of millions of dollars for the IBM patents, said Erin- Michael Gill, a managing director at MDB Capital Group LLC.