Twitter cracks deal with IBM for 900 Patents
To minimize the risks of Patent infringement Lawsuits, Social giant Twitter is all set to buy 900 Patents from IBM (International Business Machines Corpo).
The Patents involved in the matter are related to Social Media Content monitoring, Social engagement, location based network are to name a few. IBM Had already accused Twitter for violating three patents last year. The out of the court settlement resulted into a cross-licensing agreement with IBM to share patents which will help to Social Giant fight against any future claims. The agreement between both the companies was signed back in December but was announced on Friday however, Financial Details were not disclosed.
IBM is the largest Patent holder in US with a sumo of about 41,000 patents. Not only Twitter but Facebook had also acquired 750 Patents from IBM in March 2012. Even Google had bought 1000 Patents back in 2010.