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In a latest development, Yahoo is planning to auction off most of its technology patents as part of a purge that also could culminate in the sale of its internet operations.
It is to be mentioned that more than 3,000 patents have already been issued or are under approval review are on the sales block.
TheSUNNYVALE , California, company says it hasn’t set a minimum bid for the patent portfolio that it calls Excalibur.
Experts have estimated that Yahoo Inc.’s patents are worth more than $1 billion.Yahoo says it intends to retain more than 2,000 other patents that have been issued or awaiting approval in the US and abroad.
The patent auction comes at the same time that Yahoo is weighing offers for Internet operations that include its email service and digital sports, finance and news sections.
Verizon Communications has reportedly offered $3 billion for Yahoo’s Internet operations, below the $4.4 billion that it paid to acquire AOL last year. The report, which cited an unidentified person familiar with the negotiations, said Verizon isn’t interested in owning Yahoo’s real estate or patents.
Other parties interested in buy Yahoo’s internet operations include the private-equity firm TPG and a group led by Quicken Loans founder Dan Gilbert with financial backing from billionaire investor Warren Buffett.
The company is considering selling off almost everything it owns except its lucrative stakes in China’s Alibaba Group and Yahoo Japan because its own revenue has been crumbling for the past decade. Yahoo hoped to bounce back when it hired former Google executive Marissa Mayer as its CEO nearly four years ago, but instead things have gotten worse.