Twitter has acquired more than 900 patents from computing giant IBM, ending a dispute between the two companies, a joint announcement said Friday.
The statement said the two firms entered into a patent cross-license agreement as part of a deal giving the patents to the messaging platform.
"This acquisition of patents from IBM and licensing agreement provides us with greater intellectual property protection and gives us freedom of action to innovate on behalf of all those who use our service," said Ben Lee, legal director for Twitter.
IBM's Ken King said the agreement "illustrates the value of patented IBM inventions and demonstrates our commitment to licensing access to our broad patent portfolio."
Last year, as Twitter was preparing its anticipated public offering, it revealed that IBM was alleging that the micro-blogging service infringed on IBM patents.
Twitter said at the time it believed it had "meritorious defenses" to the allegations.
The agreement comes amid a series of legal disputes involving some of the world's biggest technology firms over patent rights, and a political debate in Washington on patent reform.
Twitter shares rose 1.2 percent to $64.28 in midday trade, while IBM fell 0.55 percent to $176.39.
Twitter has acquired more than 900 patents from computing giant IBM, ending a dispute between the two companies, a joint announcement said Friday.
The statement said the two firms entered into a patent cross-license agreement as part of a deal giving the patents to the messaging platform.
“This acquisition of patents from IBM and licensing agreement provides us with greater intellectual property protection and gives us freedom of action to innovate on behalf of all those who use our service,” said Ben Lee, legal director for Twitter.
IBM’s Ken King said the agreement “illustrates the value of patented IBM inventions and demonstrates our commitment to licensing access to our broad patent portfolio.”
Last year, as Twitter was preparing its anticipated public offering, it revealed that IBM was alleging that the micro-blogging service infringed on IBM patents.
Twitter said at the time it believed it had “meritorious defenses” to the allegations.
The agreement comes amid a series of legal disputes involving some of the world’s biggest technology firms over patent rights, and a political debate in Washington on patent reform.
Twitter shares rose 1.2 percent to $64.28 in midday trade, while IBM fell 0.55 percent to $176.39.
