It already has sent out letter to potential bidders with the mid-June being the end date for the bids.
According to sources who are familiar with the matter at hand, Yahoo Inc has hired Black Stone IP LLC, a boutique investment bank, to sell nearly 3,000 of its patents.
Yahoo has already sent letters to potential buyers for its proposed sale of patents, which date back to the founding days of the company, in 1996. Incidentally, the patents related to its original search technology is also up for sale.
According to the Wall Street Journal, yahoo has set the deadline for the bids to mid-June.
Earlier in March this year, Yahoo had said it would explore the sale of its $1-$3 billion worth of its patents, properties and “non-core assets”.
Neither Black Stone IP nor Yahoo were immediately available for comment.
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