Google has yet more news from China after the U.S. search firm announced a patent cross-licensing agreement with Chinese tech giant Tencent. The terms were not disclosed, but Google said the tie-in with Tencent, which is valued at over $500 billion, covers “a broad range of products and technologies” and is “long-term.” The two firms pledged to work together on future innovation and technology. “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’s Head of Patents Mike Lee said in a statement. Google’s core search service remains blocked in China, but this announcement follows a string of developments that have seen the firm ramp up in other areas in the country. In December, it announced the creation of an AI Lab in Beijing, Google’s first such facility in China, it is opening a presence in Shenzhen, and recently invested in streaming service Chushou. On the other side, the deal is also another meaningful global exercise from Tencent. Long one of China’s most influential tech giants through its hugely profitable gaming business and massively popular WeChat service, Tencent made a series of major global moves last year with investments in Snap, Tesla and Spotify.
Google has announced that it's entering into a $500bn patent cross-licensing agreement with Chinese tech giant, Tencent. Whilst Google's core search service remains blocked in U.S, this and other similar moves, such as its recent investment into streaming service Chushou, signify the China firm's continuing interest in building a presence in the Chinese market. Google's head of patents, Mike Lee commented that Google was pleased to be entering into the Tencent partnership and said that it could serve as a model for tech companies looking to "focus on building better products and services for their users”.