The company acquired more than 900 patents last year and announced the deal in January, but never said how much it paid for the intellectual property. March 7, 2014 6:15 AM PST (Credit: James Martin/CNET) Twitter paid a somewhat hefty sum for a group of patents acquired from IBM, a Securities and Exchange Commission filing shows. Twitter paid $36 million to acquire 956 patents and 100 patent applications from IBM, according to a filing published yesterday by the government agency. IBM announced the agreement between the companies in January, though the transaction actually completed in December. Last year, IBM was banging the drums of possible patent-infringement against Twitter, saying that the company's service might have violated three patents it owned related to advertising, "resource locators," and discovery of contacts. Rather than take the case to court, Twitter bought the patents from IBM and entered into a cross-licensing deal. (Via Bloomberg)
The company acquired more than 900 patents last year and announced the deal in January, but never said how much it paid for the intellectual property.
Twitter paid a somewhat hefty sum for a group of patents acquired from IBM, a Securities and Exchange Commission filing shows.
Twitter paid $36 million to acquire 956 patents and 100 patent applications from IBM, according to a filing published yesterday by the government agency. IBM announced the agreement between the companies in January, though the transaction actually completed in December.
Last year, IBM was banging the drums of possible patent-infringement against Twitter, saying that the company's service might have violated three patents it owned related to advertising, "resource locators," and discovery of contacts. Rather than take the case to court, Twitter bought the patents from IBM and entered into a cross-licensing deal.
(Via Bloomberg)
