Troubled Internet giant Yahoo has hired boutique investment bank Black Stone IP LLC to sell around three thousands of the company’s patents, according to a report in the Wall Street Journal and citing people familiar with the matter.
The firm has also sent letters to several potential buyers for the cache of patents, which are said to date back to when the company was founded back in 1996. The patents apparently include information related to its original search technology, the report says.
The deadline for bids for the patents is being set for mid June, according to the WSJ.
In March, Yahoo stated it would considering selling off $1 billion to $3 billion worth of patents, property and non-core assets.
As of the time of writing, Yahoo and Black Stone IP have not commented on the matter.
Larry Banks is a keen follower of technology and finance. He has worked for a variety of online publications, writing about a diverse range of topics including mobile networks, patents, and Internet video delivery technologies.