Western Digital, IBM announce patent acquisition, cross-license agreements

Western Digital (NASDAQ: WDC) has acquired more than 100 patent assets from IBM (NYSE: IBM). The parties also entered into a patent cross-license agreement.

Terms of the transaction were not disclosed.

Patents acquired by Western Digital are in distributed storage, object storage, and emerging non-volatile memory. Western Digital expects the IP to further strengthen its technology leadership position and drive value creation for the company and its customers. The patents will augment Western Digital´s existing portfolio of more than 10,000 patents and patent applications.

IBM has led the annual list of US patent recipients for 23 consecutive years.

Western Digital is a developer and manufacturer of storage solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with effective technology deployment, high efficiency, flexibility and speed.