RTTNews | Jun 1, 2021 02:30AM EDT

02:30 Tuesday, June 1, 2021 (RTTNews.com) - German automaker Daimler AG (DDAIF.PK) and Finland's Nokia Corp. (NOK) announced Tuesday that they have signed a patent licensing agreement. Under the deal, Nokia licenses mobile telecommunications technology to Daimler and receives payment in return.

The companies said they have agreed to settle all pending litigation between them, including the complaint by Daimler against Nokia to the European Commission.

Daimler and Nokia said the deal terms remain confidential as agreed between them.

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