Google announced a long-term patent cross-licensing deal with Cisco Systems today, and the agreement covers a broad range of IP offered by both companies. The new partnership follows a similar agreement between the search giant and Samsung, which allows Google and Samsung to cross-license one another’s patents through 2024.
Google Inc entered into a patent cross-licensing agreement with Cisco Systems Inc, the internet search giant’s second such deal in as many months. Google’s shares were up one percent at $1,145 in premarket trading on Tuesday. The “long-term” agreement is an effective way to help prevent unnecessary patent lawsuits, the companies said in a statement. “We’re pleased to enter into this cross-license, and we welcome discussions with any company interested in a similar arrangement,” said Allen Lo, Google’s deputy general counsel for patents.