Twitter shells out $36 million to evade IBM patent suit

Twitter shells out $36 million to evade IBM patent suitWashington, March 9 : Twitter has reportedly paid IBM 36 million dollars to avoid patent suit from the latter, according to documents filed with the Securities Exchange Commission.

The social network giant has paid the amount for 900 patents after IBM threatened to sue Twitter over at least three patents in November.

The price only became public Thursday, when the SEC published Twitter's Form 10-K, an annual disclosure of a company's financial performance, Wired reported.

While the companies had first announced the patent acquisition in January, they refrained from disclosing any financial details.

Meanwhile, the SEC document revealed that Twitter now owned 956 patents and had 100 filed patent applications awaiting approval. (ANI)