IBM, Groupon Settle Patent Litigation - Quick Facts

(RTTNews) - IBM (IBM) and Groupon (GRPN) announced they have settled all patent lawsuits between the companies for approximately $57 million paid to IBM and a long-term patent cross-license agreement between the companies. IBM will consider making available certain Groupon products and exclusives to its employee base as part of its corporate benefits offer.

"The license we have acquired to IBM's patent portfolio will enable Groupon to continue to build amazing products for consumers and small businesses around the world. We look forward to sharing these products directly with IBM employees," said Bill Roberts, Groupon vice president of Global Communications.