Cisco and Google enter cross-licensing patent agreement

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 in late-January reached a global patent agreement with Samsung Electronics Co Ltd.

(Also see: Google, Samsung enter global patent cross-licensing agreement)

Commenting on the agreement, a Google spokesperson said:

"By working together on agreements like this, companies can reduce the potential for litigation and focus instead on innovation."

Ericsson and Samsung also signed a cross-licensing patent agreement in January, where Samsung had to pay Ericsson $650 million plus royalties to end a patent battle from 2012.

(Also see: Samsung to pay Ericsson $650 million plus royalties to end patent battle)

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

Written with inputs from Reuters and AP