Reuters: Private Equity: AOL hires Evercore to sell patent portfolio - report

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AOL hires Evercore to sell patent portfolio - report Mar 23rd 2012, 20:56 March 23 | Fri Mar 23, 2012 4:56pm EDT March 23 (Reuters) - AOL Inc has received buyout offers from private equity firms and has hired Evercore Partners Inc to help it sell its over 800 strong patent portfolio, Bloomberg reported on Friday. Providence Equity Partners Inc, TPG Capital and Silver Lake, among others, have approached AOL about taking the Internet company private, but no deal has been struck yet, Bloomberg cited sources as saying. Activist hedge fund Starboard Value LP, which together with its affiliates owns 5.2 percent of AOL's stock, recently said it had been approached by several third parties who believe AOL's patent portfolio could produce more than $1 billion in licensing income if properly monetized. AOL was not available for comments immediately.

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