Google signs patent licensing agreement with Tencent
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, Google said on Friday, without disclosing any financial terms of the deal.
Though neither company has made the financial terms of the deal public, the agreement does cover a broad range of products and will allow the USA company and the Chinese social media and gaming firm to collaborate with one another on new technology.
Sam Xu, head of intellectual property at Tencent, added that the patent agreement would "advance the collaboration between two leading technology companies".
The agreement is a typical industry arrangement between corporations created to minimize patent infringements, with the USA company signing similar deals with Samsung Electronics Co. and others.
Google moving into the Chinese market?
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However looking at valuation ratios the stock has 5 year expected PEG ratio of 0 whereas its trailing twelve month P/E ratio is 0. During current year the company's forecasts over growth are -51.1% while for the next year analysts' growth estimation is -22.4%.
It's significant that Google is tying up with China's largest corporation after effectively withdrawing its search engine from the country in 2010 by ending self-censorship. It also oversees one of the country's most popular app stores and hosts the country's biggest gaming and livestream platforms.
The Google-Tencent agreement essentially means neither party will take legal action against the other for infringing patents, which both companies say will ramp up global technological development through the elimination of frustrating legal barriers. The Chinese firm made numerous deals a year ago, including investments in Snap and Tesla.
Both companies are open to future deeper collaboration on innovative technologies, according to the agreement.
Tencent buildings in Shenzhen, China.
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