According to Bloomberg, Facebook has reportedly acquired 750 patents from IBM in a bid to help it counter allegations of patent infringement. Supposedly, the patents Facebook acquired would cover various software and networking technologies.
Facebook, the world’s biggest social-networking service, is bolstering its legal defenses amid a standoff with rivals that have broader intellectual property portfolios. Yahoo! Inc. (YHOO) 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.
Bloomberg goes on to say that this deal would help assuage Facebook's fears that it doesn't have the intellectual property it needs to protect itself, considering its competitors, Yahoo, Google and Microsoft all have at least 1000 patents each. The newly acquired patents would also help protect itself as it continues to introduce new products and expand into areas that it is currently not competing in yet.