Tencent, Google sign long-term patent cross-licensing agreement

21 Enero, 2018, 01:08 | Author: Misty Newman
  • Tencent, Google sign long-term patent cross-licensing agreement

Google and Tencent did not disclose financial terms about the partnership. Google says this is a "long-term" agreement with the Chinese tech giant, one that covers "a broad range of products and technologies".

"By working together on agreements such as this, tech companies can focus on building better products and services for their users", Google's head of patents, Mike Lee, said.

Both companies are open to future deeper collaboration on innovative technologies, according to the agreement. As a result, many of its services have remained blocked in China.

Tencent is the fifth largest enterprise of its kind in the world and operates the popular instant message networks WeChat and QQ, massively used in China and with Access to games, videos, music and books.

Update (1/16/18): Yesterday, we brought you the surprising news that Google was returning to China.

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Now, Google is easing its way back into the country by investing in projects like an AI lab in Beijing, an investment in streaming service Chushou, and also sharing some of its AI tools.

Now that the door is ajar Google are slowly trying to make inroads into the world's largest market, the Chinese market.

The deal also follows a year of massive growth for Tencent, which posted a profit of $2.7bn in November and became the first Chinese tech company valued at over $500bn shortly after.

"The agreement may smooth the U.S. company's business in China while helping Tencent's push to expand beyond its dominant position on the mainland", Bloomberg said. In a bid to continue this development, the firm has recently made a string of high-profile investments, including the acquisition of a 10 percent stake in Snapchat a year ago.

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