updated 10:36 pm EST, Wed February 5, 2014
No financial details of the deal or quantity of licensed patents revealed
Electronics giant Samsung and networking purveyor Cisco have entered into a broad patent agreement. The signing of the deal, the third such omnibus deal by the Korean manufacturer in a week, gives each company access to a wide swath of existing patents held by the other, in addition to future filings for the next decade.
"Innovation is stifled all too often in today's overly-litigious environment," said Dan Lang, Cisco's Vice President of Intellectual Property. "By cross-licensing our patent portfolios, Cisco and Samsung are taking important steps to reverse the trend and advance innovation and freedom of operation."
"We look forward to working with Cisco," said Dr. Seungho Ahn, the head of Samsung Electronics' Intellectual Property Center. "We expect this agreement to result in mutual growth and, ultimately, for the benefit of both companies' customers across the world."
As with Samsung's deal with Google, and another with Ericcson, no financial details have been made public.