By Dow Jones Business News,
January 31, 2014, 10:05:00 AM EDT
Twitter Inc. ( TWTR ) said it acquired more than 900 patents from International Business Machines Corp. ( IBM ), and that
the companies also entered a cross-license pact.
Financial terms weren't disclosed.
The deal links the San Francisco social network, which is among the youngest technology companies to hit the public
market, with computing and tech giant IBM, which was founded more than 100 years ago.
Twitter said the deal provides it with "greater intellectual property protection" and gives the company more freedom
to bolster its service.
IBM, meanwhile, is known for its patent leadership in the U.S. The company received 6,809 patents last year, the 21st
straight year the company topped the annual list of U.S. patent leaders.
In November, Twitter had disclosed it received a letter from IBM alleging that the social-media company infringed on
at least three U.S. patents held by IBM. It is unknown if the patents sold by IBM last month were among those in the
Twitter had nine U.S. patents as of Sept. 30 and 95 U.S. patent applications pending--relatively few for a technology
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