IBM, UNOVA to cross license intellectual property.

UNOVA, Inc. (NYSE:UNA) has announced that it has signed a cross-licensing agreement with IBM which will grant both companies rights to each other's extensive intellectual property portfolios. The agreement includes the licensing of UNOVA's smart battery patents.

"UNOVA's early innovations in battery power management established an essential technology foundation for today's mobile computer industry," said Daniel S. Bishop, Senior Vice President and Chief Counsel for UNOVA. "We are pleased that industry leaders continue to validate the importance and acknowledge the value of our patents in this area. With this agreement, UNOVA has now granted smart battery licenses to five major computer companies representing more than 60 percent of U.S. sales of laptop and portable devices."

Smart battery describes UNOVA's patented technology in which a rechargeable battery contains a microprocessor chip that communicates with a host computer to monitor and regulate battery use. The technology is estimated to extend useful battery life by 30 to 40 percent.

UNOVA computer-related patents qualify it to be among the most inventive of U.S.-based technology companies. Although 60 percent of UNOVA's annual revenues are derived from machine tools, the relative strength of its computer patents rank UNOVA among the top 30 global computer companies according to a recent study published by MIT's Technology Review magazine.