In a move that will transform it into a patent holding firm, InsWeb (INSW) agrees to sell...

|By:, SA News Editor

In a move that will transform it into a patent holding firm, InsWeb (INSW) agrees to sell substantially all of its remaining assets to its online peer Bankrate (RATE) for $65M in cash. The company will retain its patent portfolio, which it will license to Bankrate on a perpetual, royalty-free and non-exclusive basis.