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ARMONK, N.Y. and SAN FRANCISCO - 31 Jan 2014: IBM (NYSE: IBM) and Twitter (NYSE: TWTR) announced today that in December Twitter acquired over 900 patents from IBM and that the companies entered into a patent cross-license agreement. Financial terms were not disclosed.
"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.
“We are pleased to reach this agreement with Twitter because it illustrates the value of patented IBM inventions and demonstrates our commitment to licensing access to our broad patent portfolio. We look forward to a productive relationship with Twitter in the future,” said Ken King, General Manager of Intellectual Property for IBM.
IBM has led the annual list of U.S. patent recipients for 21 consecutive years. More information about IBM’s patent leadership is available at: http://ibm.co/1hLSj8W
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