Welcome to this morning’s edition of ‘First To Know,’ a series in which we keep you in the know on what’s happening in the digital world. Today, we’re looking at three particularly interesting stories.

Microsoft and Facebook Announce Patent Agreement

Facebook will purchase a portion of the patent portfolio Microsoft had recently acquired from AOL for $550 million in cash, the company has announced. Under the terms of the agreement, Facebook will obtain ownership of approximately 650 AOL patents and patent applications, as well as a license to the other AOL patents Microsoft will purchase and own.

Netflix Reaches 26 Million Streaming Users Worldwide

Netflix has announced its fiscal Q1 2012 results, reporting $870 million in revenue, and nearly 3 million new subscribers to its streaming service, which now totals 26 million worldwide users.

Facebook Reaches 900 Million Monthly Active Users

Facebook has amended its S-1 to IPO with some interesting new data. The service now has 901 million monthly active users and 500 million mobile users. Furthermore, the company made $1.06 billion in revenue in Q1 2012, a 44.7% increase from the same period last year. Facebook is likely to go public on May 17.