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US: Twitter patent grab settles IP suit with IBM

 |  March 7, 2014

Twitter has reportedly acquired 900 patents from computer conglomerate IBM in a $36 million deal to boost the company’s intellectual property portfolio, reports say.

According to a filing, Twitter agreed to buy the patents last December; the company confirmed the acquisition in January but did not disclose financial details.

Now, Twitter has confirmed that the IP grab settles a patent infringement lawsuit filed by IBM against Twitter, a dispute that covered at least three patents.

In its filing, Twitter said that the company is presently “involved in a number of intellectual property lawsuits” and that the firm expects those lawsuits to keep coming.

According to reports, IBM has granted more patents than any other company for more than two decades.

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