February 4, 2014 / 1:47 PM / in 4 years

UPDATE 1-Cisco, Google sign patent agreement

Feb 4 (Reuters) - Google Inc entered into a patent cross-licensing agreement with Cisco Systems Inc, the internet search giant’s second such deal in as many months.

Google’s shares were up one percent at $1,145 in premarket trading on Tuesday.

The “long-term” agreement is an effective way to help prevent unnecessary patent lawsuits, the companies said in a statement.

“We’re pleased to enter into this cross-license, and we welcome discussions with any company interested in a similar arrangement,” said Allen Lo, Google’s deputy general counsel for patents.

Details of the agreement were not disclosed.

Google last month reached a global patent agreement with Samsung Electronics Co Ltd.

Most of the large technology companies, including Apple Inc , are involved in multiple patent litigations against each other, with the majority involving smartphone patents.

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