Google ready to pay Oracle for Java patents

According to a Reuters report, Google has stated that it is ready to pay Oracle for its patents, but latter has dubbed its proposed sum as too low.

This report is coming from the court filings of the on-going legal battle between the two firms over the use Java patents in Android.

The Reuters report states the Google is ready to pay $2.8 million for the two patents to cover the damages for the period of 2011 and for the future it proposes to pay 0.5 percent of Android revenue on one patent until it expires December 2012 and 0.015 percent of revenue for a second patent until it expires in April 2018.