April 5, 2012, 5:35 PM UTC

AOL Inc. has agreed to sell over 800 of its patents to Microsoft Corp. for just over $1 billion. As part of the deal, AOL also will grant Microsoft a non-exclusive license to use remaining AOL patents that are not included in the deal. www.aol.com

Reliance MediaWorks of India is in talks to sell some of its movie theaters to Mexico’s Cinepolis, according to the Business Standard. No financial terms were disclosed.

Covidien (NYSE: COV) has agreed to acquire Oridion Systems Ltd. (Swiss: ORIDN), an Israel-based maker of patient safety monitoring devices. The deal is valued at approximately $300 million in cash, or $23 per share. www.oridion.com

JJB Sports, a British sporting retailer, has secured a £20 million equity investment from Dick’s Sporting Goods Inc. (NYSE: DKS), in a deal that would eventually lead to Dick’s becoming the controlling shareholder of JJB.

Toshiba Corp. is in talks with SK Hynix about a joint bid for bankrupt Japanese memory chipmaker Elpida Memory, according to Reuters. www.toshiba.com

Tibco Software (Nasdaq: TIBX) has agreed to acquire LogLogic Inc., a San Jose, Calif.-based provider of log and security management platforms for the enterprise and cloud. No financial terms were disclosed. LogLogic raised VC funding from Invesco Private Capital, SAP Ventures, Sequoia Capital, TeleSoft Partners and Worldview Technology Partners. www.loglogic.com

Reliance Steel & Aluminum Co. (NYSE: RS) has acquired National Specialty Alloys LLC, a Houston-based specialty alloy processor and distributor, from Post Oak Energy Capital, with Chesapeake Investments, Solar Capital, CarVal Investors and LRC Speciality LLC. No financial terms were disclosed. Moelis & Co. managed the process. www.nationalspecialty.com

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