Twitter Acquires Patents From IBM
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 earlier dispute.
Twitter had nine U.S. patents as of Sept. 30 and 95 U.S. patent applications pending--relatively few for a technology company.
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(END) Dow Jones Newswires 01-31-141005ET Copyright (c) 2014 Dow Jones & Company, Inc.