Altaba was created after much of Yahoo was sold to Verizon in 2017 - the rest of the company was named Altaba. Altaba retained some Yahoo assets, including an IP holding Company, Excalibur IP. Yahoo had previously assigned almost 4000 patents which were not core to Yahoo's operating business, and these were not part of the Verizon deal. In this sector, Excalibur's IP focuses on targeted advertising and AI modeling.
Excalibur later brought in Paul Reidy as President as Altaba looked to monetize the IP stockpile, which it valued at $675 million. In January 2019, the company filed a Patent Infringement suit against Spotify, which has not been resolved. On October 4, 2019, Altaba filed a Certificate of Dissolution, and trading of shares of the company was halted on the NASDAQ on October 2.
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