Alphabet’s Google and Tencent Holdings have agreed to share patents covering a range of products and technologies, an alliance between two of the world’s largest corporations.
The cross-licensing deal comes with an understanding that the search giant and Tencent – the world’s second largest and fifth largest company, respectively – will team up on developing future technologies. The agreement may smooth the US company’s business in China while helping Tencent’s push to expand beyond its dominant position on the Chinese mainland.