IBM, 3Com Reveal Patent Deal

IBM Corp. and 3Com Corp., the No. 2 computer-networking company, unveiled an agreement to share access to networking and communications patents in a move that should help each speed its products to market. The companies did not disclose financial details of the agreement, under which each will license the other to use patents in its field of interest. Industry observers valued the deal at as much as $1 billion over five years. IBM shares slipped $3.44 to close at $122.25 on the New York Stock Exchange, while 3Com closed up 25 cents at $24.38 on Nasdaq.