IBM, Level 3 sign cross-licensing deal

BEIJING, Feb. 29 (Xinhuanet) -- Communications network operator Level 3 Communications Inc. and IBM have signed a long-term patent cross-licensing deal, the companies said Thursday. Financial terms were not disclosed.

As part of the deal, International Business Machines Corp. granted Level 3 licenses to about 42,000 pending and issued patents covering "a broad range of telecommunications services and technologies," the companies said.

In turn, Level 3 granted IBM licenses for more than 850 pending and issued patents covering information-handling systems.

Shares of Broomfield, Colo.-based Level 3 rose 2 cents to 2.40 U.S. dollars.

(Agencies)