ARMONK, N.Y., Dec. 23, 2020 /PRNewswire/ -- IBM (NYSE: IBM) and Airbnb (NASDAQ: ABNB) today announced that they have settled the patent lawsuit between the companies commenced earlier this year in Federal District Court in Delaware, and the case has been dismissed. The terms of the settlement are confidential.

IBM Corporation logo. (PRNewsfoto/IBM)

Dr. William Lafontaine, IBM's general manager of intellectual property, said: "IBM invests more than $5 billion annually in research and development. This agreement further demonstrates the value of our intellectual property that results from this innovation. We're pleased this matter has been resolved."

About IBM:
IBM is the world's leading hybrid cloud platform and Artificial Intelligence company. Learn more @ www.ibm.com.

About Airbnb:
Airbnb is a community based on connection and belonging—a community that was born in 2008 when two hosts welcomed three guests to their San Francisco home, and has since grown to 4 million hosts who have welcomed over 800 million guest arrivals to about 100,000 cities in almost every country and region across the globe. Hosts on Airbnb are everyday people who share their worlds to provide guests with the feeling of connection and being at home. At Airbnb, we believe that hosts, guests and the communities where we operate are all stakeholders we have a responsibility to serve, and that by serving them alongside our employees and investors, we will build an enduringly successful company.

IBM Press Contact: Doug Shelton, (914)255-8115 or doshelton@us.ibm.com
Airbnb Press Contact: Christopher Nulty, (585)613-6609 or christopher.nulty@airbnb.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/ibm-and-airbnb-announce-settlement-in-patent-litigation-301198325.html

SOURCE IBM

Copyright 2020 PR Newswire