Alphabet Inc.’s Google and Tencent Holdings Ltd. have agreed to share patents covering a range of products and technologies, an alliance between two of the world’s largest corporations.
The cross-licensing deal comes with an understanding that the search giant and Tencent -- the world’s second largest and fifth largest company, respectively -- will team up on developing future technologies. The agreement may smooth the U.S. company’s business in China while helping Tencent’s push to expand beyond its dominant position on the mainland.
