IBM (NYSE: IBM) and Twitter (NYSE: TWTR) announced today that in December Twitter acquired over 900 patents from IBM and that the companies entered into a patent cross-license agreement. Financial terms were not disclosed.

"This acquisition of patents from IBM and licensing agreement provides us with greater intellectual property protection and gives us freedom of action to innovate on behalf of all those who use our service," said Ben Lee, Legal Director for Twitter.Twitter Acquires 900 Patents From IBM [www-03.ibm.com]