How much did Westinghouse pay for Tesla's patents in order to escape its financial problems?
Westinghouse convinced Tesla to release his company from the licensing agreement over Tesla's AC patents in exchange for Westinghouse Electric purchasing the patents for a lump sum payment of $216,000; this provided Westinghouse a break from what, due to alternating current's rapid gain in popularity, had turned out to be an overly generous $2.50 per AC horsepower royalty.