Yahoo prepares to sell 3000 patents

Yahoo is preparing to sell a portfolio of approximately 3,000 patents. The internet company hopes to raise more than one billion dollars, says a source who spoke to The Wall Street Journal.

Among the patents would also be Yahoo’s original search technology from 1996. Several potentially interested companies have already received offers from Yahoo in recent weeks. The first preliminary bids must be received by mid-June.

Investment bank Black Stone IP is the bank that may lead the sale, according to the source. In a statement in The Wall Street Journal, Yahoo itself says this is a unique opportunity for Internet industry companies to purchase some of the basic patents underlying web search and advertising.

In addition to selling patents, the internet company is in the process of selling the most important part of itself, which is its internet business. At the moment, Verizon Communications, which bid $3 billion in the second round for Yahoo’s Internet business, appears to be the leading candidate. A third round of bidding is reportedly in the pipeline.

Yahoo’s total value is estimated at about $35 billion, but that’s mainly due to its shares in Alibaba and Yahoo Japan.