Google had earlier signed similar deals with Samsung Electronics, LG Electronics and Cisco Systems Inc, but the deal with Tencent is a first with a large Chinese tech firm. Google has not disclosed any financial terms of the deal but said that the agreement with the Chinese social media and gaming firm Tencent covers a broad range of products and paves the way for collaboration on technology in the future.
Tencent is evaluated to over $500 billion. Both the firms have promised to work together on future endeavours of technology, AI among many others.
Google’s Head of Patents Mike Lee said in a statement “We’re pleased to enter into a patent cross-license with Tencent. By working together on agreements such as this, tech companies can focus on building better products and services for their users.”
Google had taken keen interest in the deal after Tencent had made a series of major global moves last year with investments in Snap, Tesla and Spotify.