By Stephen Nakrosis
International Business Machines Corp. on Tuesday said Instacart acquired over 250 patents from the company.
Financial terms of the deal weren't disclosed.
The two companies also entered a mutual patent cross license, IBM said.
"The agreement allows Instacart to continue to strengthen its own patent portfolio, and the license gives Instacart freedom of action to use IBM patents in the future growth of its business," IBM said.
Instacart operates an online grocery platform and offers same-day delivery and pickup services.
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(END) Dow Jones Newswires